A Comparative Study
ICICI Prudential:
Prudential ICICI Asset Management Company Limited is an investment management company and a 55:45 joint venture between Prudential Corporation plc, UK, and ICICI Ltd., India. Both companies are financial giants, and each is a major player in its field. Prudential Corporation plc, UK was incorporated in 1848, as a provider of insurance products.
Through its investments, it controls approximately 4% of all the listed shares on the second largest stock exchange in the world, the London Stock Exchange, making it one of the largest institutional investors in the UK. ICICI Ltd. was established in 1955 by the World Bank, the Government of India and representatives of Indian industry, to promote the industrial development of India by providing project and corporate finance to Indian industry.Prudential ICICI Asset Management Company Limited has been incorporated with a capital of Rs 65 crore.
This investment - way above the stipulated norm of Rs 10 crore, represents a strategic long-term commitment, on the part of both partners, to the rapidly expanding financial services sector in India. In a short span of 14 months, Prudential ICICIs product portfolio has grown from 2 closed ended funds to 8 open ended funds and 2 closed ended funds.
UTI
UTI Mutual Fund is managed by UTI Asset Management Company Private Limited (Estb: Jan 14, 2003) who has been appointed by the UTI Trustee Company Private Limited for managing the schemes of UTI Mutual Fund and the schemes transferred / migrated from UTI Mutual Fund.
UTI AMC is a registered portfolio manager under the SEBI (Portfolio Managers) Regulations, 1993 on February 3 2004, for undertaking portfolio management services and also acts as the manager and marketer to offshore funds through its 100 % subsidiary, UTI International Limited, registered in Guernsey, Channel Islands.
UTI Mutual Fund has come into existence with effect from 1st February 2003. UTI Asset Management Company presently manages a corpus of over Rs. 34500 Crore.
The fund managers are also ably supported with a strong in-house equity research department. To ensure better management of funds, a risk management department is also in operation.
ICICI Prudential:
Prudential ICICI Asset Management Company Limited is an investment management company and a 55:45 joint venture between Prudential Corporation plc, UK, and ICICI Ltd., India. Both companies are financial giants, and each is a major player in its field. Prudential Corporation plc, UK was incorporated in 1848, as a provider of insurance products.
Through its investments, it controls approximately 4% of all the listed shares on the second largest stock exchange in the world, the London Stock Exchange, making it one of the largest institutional investors in the UK. ICICI Ltd. was established in 1955 by the World Bank, the Government of India and representatives of Indian industry, to promote the industrial development of India by providing project and corporate finance to Indian industry.Prudential ICICI Asset Management Company Limited has been incorporated with a capital of Rs 65 crore.
This investment - way above the stipulated norm of Rs 10 crore, represents a strategic long-term commitment, on the part of both partners, to the rapidly expanding financial services sector in India. In a short span of 14 months, Prudential ICICIs product portfolio has grown from 2 closed ended funds to 8 open ended funds and 2 closed ended funds.
UTI
UTI Mutual Fund is managed by UTI Asset Management Company Private Limited (Estb: Jan 14, 2003) who has been appointed by the UTI Trustee Company Private Limited for managing the schemes of UTI Mutual Fund and the schemes transferred / migrated from UTI Mutual Fund.
UTI AMC is a registered portfolio manager under the SEBI (Portfolio Managers) Regulations, 1993 on February 3 2004, for undertaking portfolio management services and also acts as the manager and marketer to offshore funds through its 100 % subsidiary, UTI International Limited, registered in Guernsey, Channel Islands.
UTI Mutual Fund has come into existence with effect from 1st February 2003. UTI Asset Management Company presently manages a corpus of over Rs. 34500 Crore.
The fund managers are also ably supported with a strong in-house equity research department. To ensure better management of funds, a risk management department is also in operation.