Equity oriented fund definition depends on investment mix, averaging method, and continued compliance with equity thresholds. The definition of equity oriented fund for income-tax purposes depends on the fund's investment mix and the scheme under which it is constituted. For one provision, the fund must invest more than sixty-five per cent of its total proceeds in equity shares of domestic companies and be set up under a specified mutual fund scheme, with the equity percentage computed on the annual average of monthly opening and closing figures. For another provision, the definition covers specified mutual fund or insurance-linked schemes subject to ninety per cent or sixty-five per cent investment thresholds, with the same averaging method and, for insurance policies, a continuing compliance requirement throughout the policy term.