ICICI Prudential Mutual Fund

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ICICI Prudential Mutual Fund
Company type Joint venture
Industry Investment management
Founded1993;31 years ago (1993)
Headquarters Mumbai, India
Area served
India
Key people
  • Mr. Nimesh Shah [1]
    (MD & CEO)
  • Mr. S. Naren [2]
    (Chief Investment Officer)
  • Mr. Rahul Goswami
    (Chief Investment Officer – Fixed Income)
Products
AUM Increase2.svg671,442 crore (US$84 billion) (December 2023) [3]
Owner ICICI Bank (51%)
Prudential Plc (49%)
Number of employees
2000–2500 (2022)
Website www.icicipruamc.com

ICICI Prudential Mutual Fund is an Indian asset management company founded in 1993 as a joint venture between ICICI Bank and Prudential plc. [4] It is the second-largest asset management company in India after the SBI Mutual Fund. [5] [6]

Contents

History

The company was founded in 1993 as a joint venture between Indian ICICI Bank and UK insurance company Prudential plc. By 1998, it had two locations and six employees.

ICICI Prudential Mutual Fund's corporate headquarters are in the Bandra Kurla Complex in Mumbai. As of 2016 it had grown to over a thousand employees across 120 locations with more than 1.9 million investors. [7]

As of Sep 2018, ICICI Pru MF, with an average assets under managements of Rs. 468,192.92 Crores, has been a major contributor to shaping India's CRISIL rating system.

Products and services

The asset management company (AMC) manages significant Assets Under Management (AUM) in the Mutual Fund segment across asset classes in India. The AMC also caters to Portfolio Management Services and Real Estate Division for investors, spread across the country, along with International Advisory Mandates for clients across international markets. [8] [9]

Competitor

ICICI Prudential Mutual Fund have major competition with SBI Mutual Fund and UTI Mutual Fund

See also

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References

  1. "Budget 2016 must look at innovative ways to create demand & jobs, improve trade". Economic Indiatimes. 12 February 2016. Retrieved 19 February 2016.
  2. "This is a great year for mutual fund investors, a bad year for traders: S Naren, ICICI Prudential AMC". Economic Indiatimes. 12 February 2016. Retrieved 19 February 2016.
  3. "Top 10 mutual funds in India; Nippon India Mutual Fund AUM rises 37.06% in 2023". economictimes.indiatimes.com/. 16 January 2024.
  4. "TOP 10 AMC IN INDIA". 5 Dariya News.
  5. "Average AUM". AMFI India. Retrieved 18 February 2016.
  6. "ICICI Prudential Long Term Equity: Top-class performer, consistently". The Hindu – BusinessLine. 13 February 2016. Retrieved 19 February 2016.
  7. "Mutual Fund". ICICI Prudential AMC. Retrieved 18 February 2016.
  8. "About ICICI Prudential Mutual Funds". ICICI Prudential AMC. Retrieved 18 February 2016.
  9. "Nimesh Shah, MD and CEO, ICICI Prudential Asset Management Views on Current State of Market". Indian SHare Tips. Retrieved 23 February 2016.
  10. "Q & A: Nimesh Shah, MD & CEO, ICICI Prudential AMC". Mutual Fund News Group. 13 October 2010. Retrieved 23 February 2016.
  11. "PMS (Portfolio Management services)". ICICI Prudential AMC. Retrieved 18 February 2016.
  12. "About Real Estate Investment". ICICI Prudential AMC. Retrieved 18 February 2016.