35 Fixed Maturity Plans (FMP) of ICICI Prudential AMC, India’s one of the leading mutual fund company, has been rated AAAf by CRISIL. ICICI Prudential is the only AMC with largest number of AAAf rated FMPs by CRISIL in its stable. The ratings indicate that ICICI Prudential FMPs’ portfolio holdings provide very strong protection against losses from credit default.
Commenting on receiving these ratings by CRISIL, Mr. Nimesh Shah, MD & CEO, ICICI Prudential AMC said, “AAAf rating by CRISIL to our FMPs is highly reassuring to investors. It endorses and inspires confidence of our credit quality standards and transparency practices. Quality of investment and transparency in approach at the helm of operation is extremely critical for us and is embedded in our system and conscience.”
It is important for investors to evaluate a fund on the basis of its portfolio. The most authentic source for the same is the fund house itself and hence it is important that fund houses realise their fiduciary responsibility and let investors know where their hard earned monies are invested.
Mr. Shah further added that “ICICI Prudential AMC is the only fund house in the country which discloses complete details of its securitizations and pass through certificates across all schemes on a consolidated basis in their monthly Fact sheet apart form giving complete FMP portfolio even though both are not mandatory.”
ICICI Prudential AMC has been one of the leading fund houses in the mutual fund space and is continuously setting new industry benchmarks in terms of corporate governance, transparency and performance consistency. Initiatives like elaborate portfolio disclosures, regular investor updates and strong customer service have all contributed to the Company being recognized for its practices.
About ICICI Prudential Asset Management Company
ICICI Prudential Asset Management Company Ltd. is the joint venture between ICICI Bank, a well-known and trusted name in financial services in India and Prudential Plc, one of UK’s largest players in the financial services sectors. ICICI Prudential Asset Management Company, in a span of just over ten years, has forged a position of preeminence in the Indian Mutual Fund industry as one of the largest asset management companies in the country with average assets under management of around Rs. 37,055 Crores as on November 30, 2008 (Source:www.amfiindia.com)
