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

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

Risk measures

Performance

Returns

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.