ICICI Prudential Long Term Equity Fund (Tax Saving) Direct Plan Growth

About ICICI Prudential Long Term Equity Fund (Tax Saving)

ICICI Prudential Long Term Equity Fund, an equity-linked saving scheme (ELSS), comes with tax benefits as per section 80C of the Income Tax Act, 1961. The fund aims at generating long-term capital growth and invests primarily in equity & equity-related securities of companies.

Pros and Cons of ICICI Prudential Long Term Equity Fund (Tax Saving)

The fund allots approximately 90% of the investment funds in equity instruments and the remaining 10% of the funds are parked in debt and money market instruments, including cash. Though the three-year returns are higher than the category average returns, the five-year returns are lower.

Fund Information and Statistics

i) Inception/Launch Date ICICI Prudential Long Term Equity Fund was introduced on 19 August 1999.

ii) Risk Level The scheme is suitable for those with a moderately high risk appetite, expecting higher returns with medium-term goals, such as wealth creation and tax benefits.

iii) Redemption Since ICICI Prudential Long Term Equity Fund is an ELSS fund, a lock-in period of 3 years is applicable. You can enjoy the tax benefit only if you stay invested in the fund during the lock-in period.

iv) Fund Manager Mr Harish Bihani is the current Fund Manager, while Ms Priyanka Khandelwal manages the overseas investment segment.

v) Entry/Exit Load Entry load is not applicable to mutual fund investments. Simiarly, exit load is not applicable to the scheme.

About ICICI Prudential Asset Management Company

ICICI Prudential Asset Management Company Limited registered with SEBI on 22 June 1993. The asset management company has assets worth Rs 3.44 lakh crore as of July 2019. Prudential Plc and ICICI Bank Limited are the sponsors of the fund house, while the trustee is ICICI Prudential Trust Limited.