ICICI Prudential Tax Plan

Type or nature of fund

Being a tax saving plan this fund is an open-ended equity linked savings scheme

Investment objective

The main objective of this fund is to invest in the equity markets while providing high returns and tax benefits to investors under section 80C of the IT Act. It also features short lock-in periods of 3 years and provides tax free dividends to investors.

Fund information

Inception date 19 August 1999
CRISIL rank 3 as of June 2015
Plans Regular and Direct
Options Growth and Dividend

•ICICI Prudential Tax Plan - Direct Plan - Dividend

•ICICI Prudential Tax Plan - Direct Plan - Growth

•ICICI Prudential Tax Plan - Regular Plan - Dividend

•ICICI Prudential Tax Plan - Regular Plan - Growth

Entry load Nil. An upfront commission may be payable if the plan is taken from a distributor. It will be paid by the investor directly to the distributor.
Exit load Nil
Minimum investment Rs. 500 with increments in multiples of Re. 1

•Rs. 500 for monthly SIP with 5 post dated cheques

•Rs. 5,000 for quarterly SIP with 3 post dated cheques

Product label

•The risk factor for this mutual fund is Moderately High

•It is aimed at the investor who is looking for long term wealth creation and tax savings



The CNX NIFTY Index is a free floating market capitalisation weighted index that covers 22 sectors from the Indian economy. It is also known as Nifty 50 or just Nifty and also deals with exchange traded funds and exchange traded futures and options.

SWP Not Available
STP Available with minimum amount of Rs. 1,000 and a maximum tenure of 10 years.
Redemption The minimum amount that can be redeemed is Rs. 500 with increments also in multiples of Rs. 500. Redemption is also allowed only after the 3 year lock-in period and can be avail via direct credit to any bank account associated with the fund.

Fund manager(s)

Chintan Haria

  • Education: M.COM, A.C.A. and ICWA
  • Past experience:
    • Associate Vice President. (Fund Manager) - ICICI Prudential AMC Ltd
    • Senior Manager - ICICI Prudential AMC Ltd
    • Assistant Manager - ICICI Prudential AMC Ltd
    • Management Trainee - ICICI Prudential AMC Ltd
  • Other funds managed
    • ICICI Prudential Child Care Plan – Gift Plan - Equity Portion
    • ICICI Prudential Growth Fund – Series 8
    • ICICI Prudential Value Fund – Series 3
    • ICICI Prudential Equity Income Fund

George Heber Joseph

  • Education: Bachelor of Commerce, Bachelor of Arts (English Language & Literature), Associate Member of Chartered Accountants of India and Associate Member of Cost and Management Accountants of India
  • Past experience:
    • Fund Manager - Portfolio Management Services ICICI Prudential Asset Management Company Limited
    • Investments department, Mutual Fund Business ICICI Prudential Asset Management Company Limited
    • Senior Specialist - Equity and Treasury Business process study DSP Merrill Lynch Ltd,Mumbai
    • Senior Business Analyst - Securities and Capital Market Domain Wipro Technologies -
    • Deputy Manager - Investments MetLife India Insurance Company
    • Finance & Treasury Cholamandalam Finance Co. Ltd
    • Finance & Accounts - Tanfac Industries Ltd
  • Other funds managed
    • ICICI Prudential Growth Fund - Series 8
    • ICICI Prudential Child Care Plan - Gift Plan (Equity portion)

Investment philosophy or strategy

The investment philosophy followed by this fund is to choose large and medium sized stock based on a detailed analysis of the fundamentals. The stocks are also chosen based on their potential for long term growth and capital appreciation. The lock-in period of 3 years gives the fund managers the ideal platform for long term investments.

Portfolio – Top 10 holdings

Sector Investment

•HDFC Bank Ltd. 10.23%

•Kotak Mahindra Bank Ltd. 3.70%

•IndusInd Bank Ltd. 1.59%

•City Union Bank Ltd. 1.26%

•The South Indian Bank Ltd. 1.17%


•Divi's Laboratories Ltd. 2.06%

•Sun Pharmaceutical Industries Ltd. 2.04%

•IPCA Laboratories Ltd. 1.66%

•Unichem Laboratories Ltd. 1.66%

•Dr. Reddy's Laboratories Ltd. 1.58%

•Cipla Ltd. 0.99%


•Tech Mahindra Ltd. 6.26%

•HCL Technologies Ltd. 2.42%

•Wipro Ltd. 0.25%


•Tata Motors Ltd. 3.76%

•Mahindra & Mahindra Ltd. 1.48%

•Tata Motors Ltd. - DVR 1.32%


•Bajaj Finserv Ltd. 2.60%

•Mahindra & Mahindra Financial Services Ltd. 1.73%

•Credit Analysis And Research Ltd. 1.07%

•Sundaram Finance Ltd. 0.77%

•Kalyani Investment Company Ltd. 0.37%

Power 5.92%

•Power Grid Corporation Of India Ltd. 5.76%

•SJVN Ltd. 0.16%

Short Term Debt & Net Current Assets 5.86%
Consumer Non Durables

•ITC Ltd. 3.42%

•Mcleod Russel India Ltd. 0.93%

•Tata Global Beverages Ltd. 0.91%

•Balrampur Chini Mills Ltd. 0.24%

•DCM Shriram Ltd. 0.16%

Consumer Durables

•Havells India Ltd. 2.18%

•Bata India Ltd. 1.86%

•Titan Company Ltd. 1.30%


•Gujarat State Petronet Ltd. 1.36%

•Petronet LNG Ltd. 1.03%


Risk measures

Sharpe ratio 1.06
Portfolio beta 0.93
Std deviation 14.63% (Annual)


AUM Rs. 2624.28 crores (As of June 30, 2015)
NAV (As of June 30, 2015)

•Regular Plan Growth Option : Rs. 263.12

•Regular Plan Dividend Option : Rs. 22.96

•Direct Plan Growth Option : Rs. 268.18

•Direct Plan Dividend Option : Rs. 27.74

Expense ratio

•ICICI Prudential Tax Plan Direct - 0.75

•ICICI Prudential Tax Plan Regular

  • First 100 crores - 2.5%
  • Next 300 crores - 2.25%
  • Next 300 crores - 2%
  • Balance - 1.75%


  2014-2015 (Absolute Returns) 2013-2014 (Absolute Returns) 2012-2013 (Absolute Returns) Since inception (value of Rs. 10,000 today)
Scheme 12.46% 61.87% 6.26% Rs. 263120
NIFTY 9.95% 30.28% 10.67% Rs. 62219.33
NAV (in Rs.) 233.97 144.54 136.02 Assume Rs. 10

Expert view of the fund

The lion's share, over 90%, of the the investments made under this scheme are done in the equity markets. This fund has also provided annual returns to the tune of 21.51%, since inception, and has outperformed its benchmark over 1, 3 and 5 year returns. It provides investors with a moderately high risk investment with high returns and tax benefits on invested amounts as well as dividends. The success of this fund has been attributed to it philosophy for picking stocks based on fundamental analysis and mixes its investments between large cap and mid cap stocks.

How to apply

To apply for this fund through the distributor or ICICI Prudential itself, all investors have to do is visit their branches. At the branch they will be able to have discussions to clarify doubts about the fund and get help in filling up the application form and fulfilling KYC norms. They will also be able to make payments towards this fund via cheques and demand drafts.

For those who are looking for a more convenient solution, there is the option of applying for this fund through the website, where both existing and new investors can register. Once the accounts are created, they can invest in this fund directly via SIP or lump sum payments. These payments can be done via net banking, debit cards or NEFT and RTGS transfers.

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