ICICI Prudential Mutual Fund has announced the launch of ICICI Prudential Growth Fund - Series 7, a three and half year close ended equity fund that aims to provide capital appreciation by investing in 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, ''With improving macro-fundamentals backed by political stability, we expect an economic recovery over the next 3-5 years. The new Government’s reforms have set the stage for moving Indian economy towards a virtuous economic cycle & may boost corporate earnings. We maintain that Indian equities are a suitable asset class and recommend domestic investors to invest with a horizon of three years and above.''