This has everything to do with Mutual funds in general from ICICI Prudential. Average performance of the Mutual funds is some where near 15% across the board over three years. Interestingly in a tax saving plan I have invested in it is an interesting story. I invested Rs.1,00,000/- out of which nearly Rs. 86000/- was allocated for buying the units and Rs.14000/- was collected by the company as Policy allocation fee. End of the year when I checked the total value of the policy it was around Rs.32000/-. Total money lost is Rs. 68000/- in a year by trying to save tax of max 30% on a lac. I would have been better off paying tax instead of trying to save tax.

Fund managers draw huge salaries and they are not affected by fund performance. I paid off Rs.14000/- to pay off fund manager salaries and expenses. So before buying mutual funds from any company please be careful. It is as risky as stock market if not more. Fund managers are as good or bad as you and me when it comes to buying stocks and maintaining the funds position.

Now so that they cant talk about the stock market linked funds they started selling insurance policies to improve the cash situation (liquidity)