ICICI Prudential Mutual Fund: Expert Insights & Investment Guide 2024
Introduction to ICICI Prudential Mutual Fund
ICICI Prudential Mutual Fund stands as one of India’s top two largest asset management companies, boasting a rich legacy since its inception in 1993.
Established through a partnership between ICICI Bank and prudential plc, one of the world’s oldest and most influential insurance companies, it has consistently delivered as one of the oldest and most profitable mutual funds in the country.
Financial strength and Growth
As of September 30, 2018, the average asset under management (AAUM) for ICICI Pru MF was Rs 468196.92 crore, a testament to its financial prowess. Managed by the trustees of the ICICI PruTrust Ltd, the mutual fund has crossed the 30-year mark, having been incorporated in the same year as its establishment.
With headquarters in Mumbai, the fund caters to a diverse audience, offering a comprehensive range of funds tailored to various socioeconomic brackets. As of March 31, 2023 the mutual oversees assets exceeding Rs.5.1 lakh crore, reflecting its robust growth. The organization is home to some of the industry’s most renowned fund managers, contributing to its stellar performance.
In line with regulatory guidelines, the prudential group plans to reduce its stake in the mutual fund by 3.7% aiming to bring its shareholding pattern below 25%, as mandated by SEBI rules.
Leadership Insights: Mr. Sankaran Naren
Role: Chief Investment officer of ICICI Asset management company limited since 2008.
Educational background: An alumnus of the Indian Institute of management, Calcutta, and an Engineering graduate from IIT Madras.
Experience: With a rich history in the Indian securities market, Mr. Naren has been a pivotal figure. He has held esteemed positions such as chief executive officer at yoha securities and director of HDFC securities Ltd.
Current role:
Serving as the executive director of ICICI asset management company Limited since 2016.
Expertise: As the head of research at Refco Sify securities India pvt ltd in the past, naren brings a wealth of experience. Currently managing high profile funds like ICICI Prudential top 100 funds and the ICICI Pru dynamic plan, both consistently ranking among the top 10 funds in their respective categories. Mr. Sankaran naren’s leadership and expertise contribute significantly to the success and performance of the fund.
Leadership Insights: Mr. Mrinal Singh
Mr. Mrinal Singh, the drivng force behind Equity Investments as the deputy chief investment officer at ICICI Pru Asset management company limited.
Professional Journey:
Role: Currently serving as the deputy chief investment officer in charge of equity since 2008.
Educational Background: Holds a B.E. in mechanical engineering and a post-graduation from SP Jain Institute of management and research.
Diverse Expertise:
Industry Experience: Brings extensive experience in diverse sectors such as automobiles, financial service, IT, and retail banking.
Previous positions: Held senior-level positions at Robert Bosch GMBH motor industries co. Ltd and Wipro before joining ICICI mutual funds.
Financial Market process:
Specialization:
A specialist in the Indian securities and derivatives market.
Contributions:
Known for his core competencies in portfolio management and detailed sector based analysis.
Achievements:
Credited with successfully turning around many of ICICI’s blue chip stocks.
Mr. Mrinal Singh’s multifaceted expertise and strategic insights make him an invaluable asset in shaping the success of the fund.
Leadership Insights: Mr. Rahul Rai
Introducing Mr. Rahul Rai, a seasoned professional with a remarkable track record spanning over 24 years in the securities and investments sectors.
Professional role:
Current position: Executive vice president, leading the real estate business at ICICI Prudent MF.
Educational Background:
Qualifications: A trained chartered accountant and a specialist in cost accountancy.
Diverse Industry Experience:
Real Estate Management: Holds a senior executive position at the real estate management firm PMS.
Previous engagements: Worked with multiple renowned entities such as SUN Apollo real estate advisors, Arthur Anderson, and served as a former senior executive at Ernst and young.
Area of expertise:
Financial Acumen: An expert in the fields of taxation and real estate investments.
Market insight: Specializes in navigating emerging markets. With Mr. Rahul Rai’s extensive experience and expertise, he plays a pivotal role in steering ICICI mutual funds real estate business to new heights.
Leadership Insights: Mr. Kayzad Eghlim
A distinguished professional with extensive expertise in ETF products, contributing significantly to ICICI prudential’s investment strategies.
Leadership Role: Holds the esteemed position of vice president of investments, showcasing his seniority and influence within the organization.
Portfolio Management: Demonstrate profound skills as a senior portfolio manager, overseeing critical investment portfolios.
Rich Professional background:
Senior Executive Roles:
Brings valuable experience from holding senior executive positions in various distinguished companies in the past.
Industry Recognition: Recognized for his pivotal role in enhancing the ETF product portfolio at this mutual fund.
With Mr. Kayzad Eghlim’s strategic contribution, this mutual fund has witnessed a notable expansion in its ETF product offerings, solidifying its position in the investment market.
Investing in the fund here's a step by step guide
Log in or sign up
Begin by logging into your existing grow account or signup for a new one. The registration process is free and efficient.
Upload identification documents
Upload essential identification documents. Commonly accepted documents include Aadhar, PAN, Driver’s License, voter ID card, any government issued identification or your passport.
Address Verification
Upload documents that verify your permanent address. Any official document containing this information is acceptable.
Determine investment horizon duration
Decide on the length of your investment horizon.
Risk tolerance
Assess your risk like appetite, whether you prefer high, low, or medium risk investments. Remember, higher potential returns usually come with higher associated risks.
Select suitable mutual fund
Based on your criteria, choose the ICICI Prudential mutual funds that aligns with your financial goals.
Investment method
Choose between a one-time lump sum investment by selecting “invest one time only” or initiate a Systematic Investment Plan (SIP) by opting for “start SIP.”
Initiate investment
With just a few clicks, start your investment journey. Within 3 to 4 working days, you can expect your ICICI Pru mf investment to reflect in your groww account. This seamless process provides you with flexibility to manage your investments efficiently.
Conclusion
With a rich legacy, it played a crucial role in shaping the country’s financial landscape and holds a high rating for its offerings. Managing assets over Rs. 468.196.92 crore, it remains consistently profitable. Figures like Mr. Sankaran Naren, Mr. Mrinal Singh, Mr. Rahul Rai, and Mr. Kayzad Eghlim contributes to its success. As the prudential group reduces its stake, ICICI Prudential Mutual fund continues to be a prominent player with a user-friendly investment process and strong leadership.
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