ICICI Prudential Mutual Fund is an Indian
asset management company
An asset management company is an asset management / investment management company/firm that invests the pooled funds of retail investors in securities in line with the stated investment objectives. For a fee, the company/firm provides more dive ...
founded in 1993 as a
joint venture
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acce ...
between
ICICI Bank and
Prudential plc
Prudential plc is a British-domiciled Multinational corporation, multinational insurance and asset management company headquartered in London and Hong Kong. It was founded in London in May 1848 to provide loans to professional and working peop ...
.
It is the second-largest asset management company in
India
India, officially the Republic of India, is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area; the List of countries by population (United Nations), most populous country since ...
after the
SBI Mutual Fund.
History
The company was founded in 1993 as a joint venture between Indian
ICICI Bank and UK insurance company
Prudential plc
Prudential plc is a British-domiciled Multinational corporation, multinational insurance and asset management company headquartered in London and Hong Kong. It was founded in London in May 1848 to provide loans to professional and working peop ...
. By 1998, it had two locations and six employees.
ICICI Prudential Mutual Fund's corporate headquarters are in the
Bandra Kurla Complex in Mumbai. it had grown to over a thousand employees across 120 locations with more than 1.9 million investors.
As of September 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
In finance, assets under management (AUM), sometimes called fund under management, refers to the total market value of all financial assets that a financial institution—such as a mutual fund, venture capital firm, or depository institutio ...
(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.
*Mutual Fund - The Mutual Fund primarily targets retail investors.
*Portfolio Management Services - allows
high net worth investors to invest in a more concentrated portfolio aiming at higher returns. In the year 2000, ICICI Prudential AMC was the first institutional participant to offer these service in India.
*Real Estate Business - targets high net worth investors and domestic institutional investors, with ICICI Prudential AMC starting the Real Estate Investment Series Portfolio in 2007.
Competitor
ICICI Prudential Mutual Fund have major competition with
SBI Mutual Fund and
UTI Mutual Fund.
See also
*
Mutual funds in India
The first introduction of a mutual fund in India occurred in 1963, when the Government of India launched the UTI Asset Management, Unit Trust of India (UTI). Mutual funds are broadly categorised into three segments: Stock fund, equity funds, hy ...
References
External links
*
{{ICICI Group
ICICI Bank
Mutual funds of India
Financial services companies based in Mumbai
Financial services companies established in 1993
1993 establishments in Maharashtra
Indian companies established in 1993
Prudential plc
Asset management companies