ICICI Prudential Mutual Fund is an Indian asset management company founded in 1993 as a joint venture between
ICICI Bank
ICICI Bank Limited is an Indian Private bank. It is headquartered at Mumbai. It offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiari ...
and
Prudential plc
Prudential plc is a British Multinational corporation, multinational insurance company headquartered in London, England. It was founded in London in May 1848 to provide loans to professional and working people.
Prudential has dual primary list ...
.
It is the second-largest asset management company in
India
India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...
after the
SBI Mutual Fund
SBI Mutual Fund is an Asset Management Company introduced by State Bank of India (SBI) and incorporated in 1987 with its corporate head office located in Mumbai, India. SBIFMPL is a joint venture between the State Bank of India, an Indian p ...
.
History
Origin
ICICI Prudential Mutual Fund's corporate headquarters are in the
Bkc in Mumbai. It has grown from two locations and six employees in 1998 to over a thousand employees across 120 locations and more than 1.9 million investors in 2016.
Products and services
The AMC manages significant Assets under Management (AUM) in the Mutual Fund segment across asset classes. 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
The 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 the service.
Real Estate Business
The Real Estate division targets high net worth investors and domestic institutional investors, with ICICI Prudential AMC starting the Real Estate Investment Series Portfolio in the year 2007.
Major Competitors
A few of the competitors for ICICI Prudential Mutual Fund in the mutual fund sector are
HDFC Mutual Fund, Kotak Mutual Fund, Nippon India Mutual Fund,
SBI Mutual Fund
SBI Mutual Fund is an Asset Management Company introduced by State Bank of India (SBI) and incorporated in 1987 with its corporate head office located in Mumbai, India. SBIFMPL is a joint venture between the State Bank of India, an Indian p ...
,
Axis Mutual Fund
Axis Mutual Fund is an asset management company in India. It was established in the year 2009 and has its headquarter in Mumbai.
Axis Mutual Fund offers various types of mutual fund schemes to invest in India, such as equity funds, hybrid funds ...
, Birla Sun Life 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 Unit Trust of India (UTI). UTI enjoyed a monopoly in the Indian mutual fund market until 1987, when a host of other government-controlled Ind ...
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