Wednesday, March 05, 2025 | 09:06 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

ICICI Pru targets Rs 1 lakh cr AUM by Mar-end

Image

BS Reporter Kolkata

ICICI Prudential Mutual Fund, the joint venture asset management company, expects its assets under management (AUM) to cross the Rs 1,00,000-crore mark by the end of the current financial year with increased focus on debt funds and the retail market. At the end of 2007-08, the AUM was Rs 60,000 crore.

At present, out of the total funds managed and advised by the company, about 40 per cent consists of equity and 60 per cent debt.

“Over the last five to six months, we are focusing more on debt funds, especially in the retail segment, due to an increase in demand for debt products. We expect this trend to continue. By March 2009, we may see a shift towards debt products. However, this is a good time to remain invested in equity funds,” said ICICI Prudential Managing Director & Chief Executive Officer Nimesh Shah. However, the company will retain its focus on equity markets and intends to launch two-three equity products over the next six months.

 

“We are more focusing on retail investors, rather than big ticket investors and volumes,” Shah said. ICICI Prudential plans to open 40 more branches, in addition to its existing 235 branches, this year.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Aug 28 2008 | 12:00 AM IST

Explore News