ICICI Prudential Long Term Equity Fund (Tax Saving) is an open-ended equity linked saving scheme offered by ICICI Prudential Asset Management Company. An equity linked savings scheme is a type of mutual fund which invests primarily in equities and equity related instruments and the same time provides tax benefits on investments.
The investment objective of ICICI Prudential Long Term Equity Fund (Tax Saving) is to generate long-term capital appreciation through investments made primarily in equity funds and equity related securities of companies. It is suitable for investors seeking:
The features of this fund are:
| Criteria | Definition |
| Name | ICICI Prudential Long Term Equity Fund (Tax Saving) |
| Type | An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit. |
| Benchmark | NIFTY 500 Index |
| Loads | This fund has no entry or exit load. |
| Subscription Amount | Rs. 500 (plus in multiples of Rs.1) |
| Plan Options | Growth
|
| Transaction Charges | NA |
| Risk | Moderately High |
| NAV | Rs. 351.34 as on 28th August 2019 |
| AUM | Rs. 6,087 crore (As on Jul 31, 2019) |
| Fund Manager | Mr. Sankaran Naren and Mr. Harish Bihani |
| Expense Ratio | 2.15% (As on Jul 31, 2019) |
| Returns - 3 Years | 5.69% |
| Returns - 5 Years | 7.53% |
| Returns - 10 Years | 13.27% |
| Redemption | Only after the expiry of the lock-in period of three years from the date of allotment of units. |
| YTD | 1-Month | 3-Month | 1-Year | 3-Year | 5-Year | 10-Year | |
|---|---|---|---|---|---|---|---|
| Fund | -2.55 | -4.91 | -9.91 | -8.36 | 5.69 | 7.53 | 13.27 |
| S&P BSE 500 TRI | -1.23 | -2.10 | -7.97 | -9.04 | 8.38 | 8.44 | 10.34 |
| Category | -1.77 | 1.87 | -7.79 | -9.14 | 6.57 | 8.54 | 11.25 |
| Rank within Category | 23 | 36 | 29 | 15 | 22 | 22 | 4 |
| Number of funds in category | 35 | 37 | 36 | 35 | 33 | 29 | 26 |
YTD - Year to Date
The performance is measured as a rate.
| Entity | Weightage |
|---|---|
| NTPC Ltd | 6.22% |
| Bharti Airtel Ltd | 5.84% |
| ITC Ltd | 5.44% |
| ICICI Bank Ltd | 4.53% |
| Hindalco Industries Ltd | 4.37% |
| State Bank of India | 3.77% |
| Oil & Natural Gas Corp Ltd | 3.61% |
| Larsen & Toubro Ltd | 3.52% |
| SBI Life Insurance Co Ltd | 3.36% |
| Infosys Ltd | 2.61% |
ICICI Prudential Long Term Equity Fund is an excellent investment option. This scheme is ideal for individuals seeking capital appreciation and saving tax. It helps you to claim a tax deduction of up to Rs. 1.5 lakhs under Section 80C of the Income Tax Act, 1961 from your Gross Total Income and enables saving taxes up to Rs. 46,800.
The documents required to buy ICICI Prudential Long Term Equity Fund are:
What is long term equity fund?
A long term equity fund is a type of mutual fund which invests primarily in equities and equity related instruments.
