ICICI Prudential Long Term Equity Fund Full Details

ICICI Prudential ELSS Tax Saver Fund, previously known as ICICI Prudential Long Term Equity Fund, is an Equity Linked Savings Scheme (ELSS) that offers tax benefits under Section 80C of the Indian Income Tax Act. Investments up to ₹1.5 lakh per financial year are eligible for tax deductions, and the scheme has a mandatory lock-in period of three years.

Fund Overview:

• Launch Date: August 19, 1999.
• Fund Type: Open-ended ELSS equity scheme.
• Fund Managers: Mr. George Heber Joseph.

Performance and Returns:

• Net Asset Value (NAV): As of February 7, 2025, the NAV for the Growth option of the Direct plan is ₹960.42.
• Returns: The fund has delivered returns of 11.6% over the past year, 13.62% over three years, and 17.0% over five years. Since its inception, it has achieved a return of 19.14%.

Fund Size and Expense Ratio:

• Assets Under Management (AUM): ₹13,846.63 crore as of December 31, 2024.
• Expense Ratio: The expense ratio for the Regular plan is 1.73% as of January 31, 2025.

Investment Details:

• Minimum Investment: ₹500 for both lump sum and SIP investments.
• Lock-in Period: 3 years.
• Tax Benefits: Investments qualify for deductions under Section 80C up to ₹1.5 lakh per financial year.

Portfolio Composition: As of July 31, 2024, the fund's asset allocation includes approximately 95.4% in equities and 4.6% in cash and cash equivalents. The top 10 equity holdings constitute around 49.9% of the assets, with the top three sectors accounting for approximately 53.21% of the assets.

Investment Options: The fund offers both Regular and Direct plans, each with Growth and Dividend options. The Direct plan typically has a lower expense ratio compared to the Regular plan, as it excludes distributor commissions.

How to Invest: Investors can purchase units directly from the ICICI Prudential Mutual Fund website or through mutual fund distributors and financial advisors. Online investment platforms also facilitate investments in this fund.

Risk Factors: As an equity-oriented fund, ICICI Prudential ELSS Tax Saver Fund carries a high risk. Investors should assess their risk tolerance and investment horizon before investing.

For the most current information and personalized advice, consider consulting a financial advisor or visiting the official ICICI Prudential Mutual Fund website.