ICICI Prudential Mutual Fund has announced the launch of ICICI Prudential Growth Fund-Series 3, a three and half year close ended equity fund that aims to provide capital appreciation by investing in a well-diversified portfolio of equity and equity related securities.

Speaking on the launch of this fund and the thought behind it, Nimesh Shah, MD & CEO, ICICI Prudential Asset Management Company said, ''The economic transformation continues with major macroeconomic indicators showing a positive outlook. Macro stability conditions are expected to improve further with the key driver being sustained deceleration in Consumer Price Index Inflation. This pick up in sentiments is likely to actuate revenue growth for companies as Gross Domestic Product growth, demand up tick and profitability of companies have high positive correlation. We believe there is an opportunity available for equity markets with the earnings growth likely to improve going ahead.''