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ICICI Prudential Long Term Equity Fund

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.

Investment Objective

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:

  1. Long term wealth creation solution.
  2. An Equity Linked Savings Scheme that aims to generate long term capital appreciation by primarily investing in equity and related securities and provides tax benefit under Section 80C of the Income Tax Act, 1961. Note: All information has been sourced from the official website of ICICI Prudential Asset Management Company.

Features of ICICI Prudential Long Term Equity Fund

The features of this fund are:

  1. It is an open-ended equity linked saving scheme.
  2. Has a statutory lock-in period of 3 years.
  3. Provides tax benefits under Section 80C of the Income Tax Act, 1961 (up to Rs. 1.50 lakh).
  4. The fund offers dual benefits of wealth creation and saving tax.
  5. Save up to Rs. 46,800 in taxes.
  6. The fund has 91.66% investment in Indian stocks of which 67.51% is in large cap stocks, 13.42% is in mid cap stocks and 10.49% in small cap stocks.

Statistics of ICICI Prudential Long Term Equity Fund

CriteriaDefinition
NameICICI Prudential Long Term Equity Fund (Tax Saving)
TypeAn open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit.
BenchmarkNIFTY 500 Index
LoadsThis fund has no entry or exit load.
Subscription AmountRs. 500 (plus in multiples of Rs.1)
Plan OptionsGrowth
  • Regular
  • Dividend with only dividend payout sub-option
  • Direct
  • Regular
  • Dividend with only dividend payout sub-option
  • Transaction ChargesNA
    RiskModerately High
    NAVRs. 351.34 as on 28th August 2019
    AUMRs. 6,087 crore (As on Jul 31, 2019)
    Fund ManagerMr. Sankaran Naren and Mr. Harish Bihani
    Expense Ratio2.15% (As on Jul 31, 2019)
    Returns - 3 Years5.69%
    Returns - 5 Years7.53%
    Returns - 10 Years13.27%
    RedemptionOnly after the expiry of the lock-in period of three years from the date of allotment of units.

    ICICI Prudential Long Term Equity Fund Performance

    YTD1-Month3-Month1-Year3-Year5-Year10-Year
    Fund-2.55-4.91-9.91-8.365.697.5313.27
    S&P BSE 500 TRI-1.23-2.10-7.97-9.048.388.4410.34
    Category-1.771.87-7.79-9.146.578.5411.25
    Rank within Category2336291522224
    Number of funds in category 35 373635332926

    YTD - Year to Date

    The performance is measured as a rate.

    Top Holdings of ICICI Prudential Long Term Equity Fund

    EntityWeightage
    NTPC Ltd6.22%
    Bharti Airtel Ltd5.84%
    ITC Ltd5.44%
    ICICI Bank Ltd4.53%
    Hindalco Industries Ltd4.37%
    State Bank of India3.77%
    Oil & Natural Gas Corp Ltd3.61%
    Larsen & Toubro Ltd3.52%
    SBI Life Insurance Co Ltd3.36%
    Infosys Ltd2.61%

    Why invest in ICICI Prudential Long Term Equity Fund?

    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.

    Documents Required to Purchase ICICI Prudential Long Term Equity Fund

    The documents required to buy ICICI Prudential Long Term Equity Fund are:

    • Application Form
    • PAN Card/Aadhaar Card
    • SIP/Auto Debit Registration Form
    • Bank Account Mandate
    • KYC - Proof of ID and Address
    • Latest Bank Statement

    FAQs on ICICI Prudential Long Term Equity Fund

    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.

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