ICICI Prudential Mutual Fund is one of India’s top 2 largest Asset Management Companies. It is one of the oldest and most profitable Mutual Funds. Most of their offerings are rated “AAAmfs”, which indicates a high degree of confidence and reliability.
ICICI Prudential was set up in 1993 with ICICI Bank and Prudential Plc acting as partners. The Prudential Group is one of the world’s oldest, largest and most influential insurance companies.
ICICI Prudential Mutual Fund has played a major role in setting up the CRISIL rating system in India. As a CIBIL score determines the creditworthiness of an individual, the CRISIL score determines the health of Mutual Funds in India.
According to statistics made available as of 30th September 2018, the Average Assets Under Management or AAUM of ICICI Pru Mutual Fund, as it is also known, is Rs 468196.92 Crore. It is managed by the trustees of the ICICI Prudential Trust Ltd and is over 30 years old.
The Mutual Fund was set up and incorporated in the same year- 1993. As of 31 March, 2022, it manages assets worth over Rs. 4.6 Lakh Crore. The organisation has some of the best-known fund managers in the business, and it is growing at a rapid pace.
ICICI Prudential Mutual Fund is headquartered in Mumbai and provides a wide array of funds designed to fit every socioeconomic bracket. You can deposit a lump sum or start a SIP with ICICI Prudential via Groww with minimal documentation and in a very short period of time.
Prudential Group has plans to offload 3.7% of its stake in the Mutual Fund to pare down its shareholding pattern to below 25% as per SEBI rules.