Private sector ICICI Bank on Friday said its board has approved additional 2 per cent increase stake in its asset management arm ICICI Prudential Asset Management Company. The board of the bank on Friday approved purchase of up to 2 per cent additional shareholding in the ICICI Prudential Asset Management Company, ICICI Bank said in a regulatory filing.
ICICI Prudential Asset Management Company has set a price band of Rs 2,061- Rs 2,165 per share for its Rs 10,600-crore initial public offering (IPO) that will open on Friday. At the upper end of the band, the country's largest asset manager will command a valuation of Rs 1.07 trillion.
'We operate in an economy that is structurally positioned for long-term growth. As market levels rise over time, our AUM grows in line.'
The sector's IPO pipeline is led by Tata Capital's Rs 17,000 crore issue, followed by ICICI Prudential Asset Management at Rs 10,200 crore and Billionbrains Garage Ventures at Rs 6,000 crore.
'Allocating 5 to 10 per cent of one's portfolio and staying disciplined through market cycles helps in having a positive investment experience.'
'Investing in these funds makes sense if their net yield over better-quality funds -- corporate bond funds or banking and PSU funds -- is meaningful.'
New investors should avoid short-term, tactical entries and instead go for staggered buying via ETFs to manage volatility.
Many high-profile IPOs in India since 2021 have destroyed investor wealth due to overvaluation, weak business models, and post-listing disinterest, turning 1 lakh investments into as little as 3,500.
Federal Bank on Thursday said the Reserve Bank of India has accorded approval to ICICI Prudential Asset Management Company Ltd () for acquiring up to 9.95 per cent stake in the bank. RBI accorded the approval subject to conditions on Thursday, Federal Bank said in a regulatory filing.
Younger investors with long investment horizons may continue their SIPs.
'As we navigate uncertain waters, a conservative approach to largecap investing could provide a strategic advantage.'
Invest with a 5 to 7 year horizon so that you are able to ride out price volatility and benefit from the long-term trends of demand and macroeconomic shifts.
ICICI Bank on Saturday said its March quarter consolidated net profit grew 18.5 per cent to Rs 11,672 crore, helped by lower provisions. On a standalone basis, the second largest private sector lender showed a 17.4 per cent growth in its profit after tax at Rs 10,708 crore for the reporting quarter against Rs 9,122 crore in the year-ago period. For fiscal 2023-24, its standalone net profit grew to Rs 40,888 crore from Rs 31,896 crore a year ago.
Only investors with a higher risk appetite should enter these funds.
Do not, however, enter expecting quick returns.
'Your decisions should not be driven by your view on the market, but by your objectives, risk appetite, and time horizon.'
While near-term performance is difficult to predict after a huge run-up, fund managers believe the PSU theme's prospects remain sound over the medium to long term.
The improving outlook for the power sector has caught the interest of dividend yield funds. In the first four months of the current financial year (2023-24, or FY24), five of the six largest dividend yield funds have shown a notable increase in their exposure to stocks within the power sector. Some have even introduced new stocks to their portfolios.
In contrast with their strong performance in 2020 and 2021, pharmaceutical and healthcare funds experienced a decline in 2022, with returns plummeting by an average 9.8 per cent. This trend has continued in the current year, with year-to-date return remaining in the negative (-4.9 per cent). In the past three months, pharma funds have been hit hard, experiencing a 7.9 per cent decline.
"Fund houses look at merging schemes where there is a duplicity of content or if the scheme has been underperforming historically," says Aashish Somaiya, head (retail business), ICICI Prudential AMC.
The rally in silver may continue if the global economic recovery remains on course.
"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 said. Of the estimated 68,000 financial advisers available in the country, almost 38,000 are working for ICICI Prudential, he said.
Nimesh Shah, managing director & CEO of ICICI Prudential Asset Management Company, tells Chandan Kishore Kant that he is bullish on the Indian market.
Our partnership with ICICI Bank continues to remain strong. We have an exceptional relationship with them, says group CEO of Prudential.
If FIIs come in looking for higher returns, this will help turn India Incs fortunes but a reform-oriented government is critical, says Nilesh Shah.
To get back equity-wary investors, fund houses and their portfolio management services (PMS) have started schemes that will regularly book profits. In these funds, mutual funds and PMS will realise appreciation at specific target returns and transfer profits either to a safer investment avenue or give the money back to the customer.
AMCs can invest $7 billion abroad, and $300 million per AMC, but investments are way below these levels. Most equity schemes can invest 35 per cent of their assets abroad and there are schemes that invest only in overseas equity. What's holding them back is that they are not very sure if they can buy these bonds.
If a 5% to 10% fall in the equity market gives you sleepless nights, you are not cut out for a 75% to 80% allocation to equities and must reduce it.
Kochhar retires by rotation, and being eligible, has offered herself for reappointment as director, said the broking arm in a notice for its Annual General Meeting to be held on August 30
Silver, which is currently trading at Rs 68,453 per kilogram, has appreciated 21.7 per cent over the past three months. Investors, however, shouldn't get carried away by its recent performance and put their money in it. Instead, they should evaluate its pros and cons and then take a considered decision based on their risk appetite.
Before you invest, check the fund manager's track record in managing such a strategy, asserts Sarbajeet K Sen.
Outperforming peers following a crisis in the debt markets is an act that ICICI Prudential Asset Management Company fund manager Manish Banthia has pulled off more than once.
One of the biggest advantages of index funds and ETFs is their low cost, points out Sarbajeet K Sen.
If a retail investor wants exposure to a healthcare ETF, it should be a part of his satellite portfolio, suggests Sanjay Kumar Singh.
Rakesh Jhunjhunwala sounded another note of caution on the nature of the latest bull run.
Money flowing into the equity schemes of mutual funds is back at a level last seen before the 2008 financial crisis, when the stock market tanked 60 per cent.
Given the macro setting, the outlook remains positive for each of the four key parameters - inflation, current account deficit, fiscal deficit and currency stability, says Rahul Bhushkute.
managers said the weaker rupee, which has driven up shares of technology companies, has helped the fund fetch better returns.
'There is no need to do anything, let your SIPs get deducted every month, and stick to your allocation between equity, fixed income and emergency funds and your risk covers.'
Vishal Sikka who was made vice-chairman till his successor was appointed, also quit the board with immediate effect.
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