Promoted by the ICICI group, the ICICI Prudentual Mutual Fund asset management company was formed in 1997-98 when JP Morgan was replaced by the UK-based Prudential plc. While its fixed income funds have had a successful run, the equity funds have managed to performed only averagely.
The break-up of assets worth Rs 9,133 crore for equity funds, balanced funds and monthly income plans.
Equities: 65.05%, Debt: 24.21%, Cash: 10.74%
The fund house saw a 70% growth in profits in 2007-8. Though its AUM dropped to Rs 41,902 crore in December 2008, it rose to Rs 53,538 crore in February 2009.
2006-7: Rs 48.4 crore, 2007-8: Rs 82.1 crore
Top 5 fund schemes
Four funds out of the top five are debt funds, which goes with the AMC's tilt towards corporate clients.
ICICI Pru Flexible Income Plan: 32.2%, ICICI Pru Liquid: 26%, ICICI Pru Income Plan: 7.4%, ICICI Pru Infrastructure Fund: 4.7%, ICICI Pru Floating Rate-Option A: 4.6%
Top 5 equity holdings
The value of the stock of the AMC's favourite pick, Bharti Airtel, is Rs 554.4 crore (as on 28 February).
Bharti Airtel: 9.3%, Reliance Industries: 8%, ICICI Bank: 5.6%, Infosys Technologies: 3.7%, SBI: 3.2%
Fund house style
The fund house has an aggressive attitude in distribution as well as investment. It has focused more on institutional investors, making the fund not so attractive for retailers. In the past 18 months, it has launched several innovative funds, such as the ICICI Pru Banking and Financial Services Fund.
Return percentile: 60%, Risk percentile: 60%
If you had invested Rs 10,000 on 1 January 2000 in the ICICI Pru Power (G), its value would be Rs 30,971 on 2 April 2009, an absolute growth of 210%.
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