ICICI Prudential Asset Management Company Ltd. is the largest asset management company (AMC) in the country. It has followed the motto of ‘Believe and Achieve’ and has shown dramatic and outstanding growth in the last few years.
About ICICI Prudential AMC
Setup and incorporated in 1993, it is considered as one of the oldest private sector AMCs of India. ICICI Pru AMC became a joint venture of ICICI Bank and Prudential plc, one of the UK’s largest players in the financial services sectors in 1998. Since then, it has shown an outstanding growth rate in every aspect whether it’s number of employees, locations, schemes, investors, or the assets under management.
What started from 2 locations and 6 employees in 1998 has rapidly grown up and today, it comprises a hardworking and experienced staff of 1476 employees working at 215 locations serving more than 2.5 million investors (as of march, 2017). The AMC owns 1366 different categories of schemes and has assets under management (AUM) of Rs 305641.56 lakh crore, which is highest by any AMC in India.
ICICI Bank is India's largest private sector bank with total consolidated assets of Rs. 9,860.43 billion (US$ 152.0 billion) at March 31, 2017 and profit after tax of Rs. 98.01 billion (US$ 1.5 billion) for the year ended March 31, 2017. ICICI Bank currently has a network of 4,850 Branches and 14,164 ATM's across India.
Prudential is a UK-based international financial service group which provides customers with a variety of products and services including life insurance, annuities, retirement-related services, mutual funds, and investment management. It was established in 1875 and has more than 24 million insurance customers with £599 billion of assets under management.
Salient Features of ICICI Pru AMC
- The AMC has a mix of investment expertise, resource bandwidth, and process orientation.
- It provides investors with a large variety of options to choose from. It has abundant of schemes in debt, equity, real state, and other asset classes.
- The fund house has a bulk of experience, combining the Indian market experience of ICICI Limited and international market experience of the Prudential.
- It endeavors to simplify its investor’s journey to meet their financial goals, and give a good customer experience through innovation, consistency, and sustained risk-adjusted performance.
Performance of ICICI Pru AMC
ICICI has made a huge contribution to promote mutual funds in India with all its equity fund schemes outperforming their benchmarks. The AMC had a trembling start and hence it lacked far behind from some major AMCs like Birla Sun Life AMC and Reliance Capital AMC for the first 10 years. With the appointment of Nilesh Shah as the head of investment and Pankaj Razdan as CEO in 2004, the good days of ICICI Pru AMC started. By 2007, almost 100% funds cleared their respective benchmarks and since then it never looked back and went on to become the AMC with largest assets under management by 2017. Below are some of the top performing funds of ICICI Prudential AMC and their respective NAV (as on 7th May,2018).
Top Performing Funds of ICICI Pru AMC
The journey of ICICI Prudential AMC has indeed been a roller coaster but eventually, it has achieved what no one expected. The combination of experience and hard work has definitely paid off. According to the experts ICICI Pru AMC has a very bright future. After going through this write-up, you too might be planning your investment with this fund house. Connect with the AMC directly or join an online platform to start your investment in a reliable scheme of ICICI Prudential Mutual Fund today!