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Prudential ICICI AMC launches new product
November 25, 2003 14:15 IST
Prudential ICICI Asset Management Company the investment manager to India's largest private sector mutual fund launched an innovative product, the Pru ICICI Advisor Series.
The Advisor Series, which will invest in the AMC's own schemes has five structured plans to suit investor risk-profiles.
Investors' risk profile will be determined using Prudential ICICI's InvestCare Quotient, a proprietary profiling tool.
Speaking on the occasion, Shailendra Bhandari, managing director, Prudential ICICI AMC had said, "We have always been committed to offering innovative products to Indian investors. Fund of Funds is an established international investment concept that we have introduced in India. We have used this cutting edge concept to launch our Pru ICICI Advisor Series to make it easy for Indian investors to avail of a range of investment solutions designed to suit their specific risk appetite."
The Pru ICICI Advisor Series has five plans: Very Aggressive, Aggressive, Moderate, Cautious, and Very Cautious Plan.
Pru ICICI Advisor Series' initial public offer, which opened on November 10 will close on November 28.
Pru ICICI AMC has Rs 14,560 crore (Rs 145.6 billion) in assets under management. It has over 30 centres in India to service nearly 600,000 investors.
Its diverse product portfolio comprises debt, equity and balanced funds. A consistent investment philosophy with institutionalised risk control process, prudent calls and an in-depth knowledge of the ever-changing market conditions have contributed to its leadership position.