NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News  » Business » ICICI Pru to train 10,000 financial advisers

ICICI Pru to train 10,000 financial advisers

April 22, 2009 09:43 IST

ICICI Prudential Asset Management Company will groom 10,000 financial advisers in the current fiscal 2010. Last year too, the company had trained 10,000 people as financial advisers to cater to the needs of the growing mutual fund industry.

"There is a large workforce working as agents for life insurance companies and other banking and financial products who require specialised training as financial advisers," ICICI Prudential AMC, head -- retail sales and distribution, Vikram Kaushal told Business Standard.

Of the estimated 68,000 financial advisers available in the country, almost 38,000 are working for ICICI Prudential, he said.

"The trained financial advisers can explore job prospects elsewhere also and there is no binding clause from our side in this regard," Kaushal added.

He was in town to launch the ICICI Prudential Target Returns Fund in Uttar Pradesh. The NFO closes on May 14.

"The new fund seeks to generate capital appreciation by investing predominantly in equity shares of large market capitalisation companies constituting the BSE 100 index," he said.

It is an open-ended diversified equity fund for potential wealth creation through a large cap equity portfolio and facilitating disciplined profit taking using an inbuilt tool called a trigger, which helps investors to set their target to meet investment objectives.

Commenting on the capital market, Kaushal underscored that auto stocks were looking strong and the sector would do well this year. "Besides, auto stocks, cement and steel stocks also look profitable at present."

BS Reporter in New Delhi, Lucknow