Sandeep Bakhshi named chief operating officer, who would be handling all the businesses.
The top three mutual funds (MFs) paid out 10-18 per cent higher commissions to distributors during the financial year 2022-23 (FY23) compared to FY22 as a sustained rise in flows from the systematic investment plan (SIP) route boosted distributors' share in the assets under management (AUM), according to an analysis of the disclosures by the top three fund houses. State Bank of India (SBI) MF saw its commission payout go up 18 per cent year-on-year (YoY) to Rs 1,675 crore. The payouts rose 10 per cent and 15 per cent for ICICI Prudential MF and HDFC MF, respectively.
ICICI Bank was looking at valuing ICICI Holdings at $10 billion, sources said. Vishaka Muley, chief financial officer of the group, refused to comment on the development.
Ask rediffGURU Reetika Sharma your insurance, mutual fund and personal finance-related questions.
Prudential has two JVs with ICICI Bank in the country, one in insurance business with 26 per cent stake and another in the mutual fund business with 49 per cent equity. While asserting that the two businesses were well-capitalised and did not need any immediate capital infusion, Tucker said Prudential was open to consider raising its stake in the insurance JV as and when the regulatory framework permitted the same.
Of the existing set of potential leaders, Bakhshi was clearly the only choice as he beat out other high-level candidates that included executive directors Anup Bagchi, Vishakha Mulye, NS Kannan, and Vijay Chandok who were lacking the all-round game that Bakhshi has.
'Allocating 5 to 10 per cent of one's portfolio and staying disciplined through market cycles helps in having a positive investment experience.'
Passive funds appeal to investors seeking to avoid the risk of underperformance by the fund manager and minimise the need for frequent chopping and changing of funds.
A seasoned banker with over 30 years of experience, Bakhshi is a mechanical engineer from Punjab Engineering College, Chandigarh. He has a post-graduate degree in management from Xavier Labour Relations Institute.
PIDP follows a bottom-up stock-picking strategy and prefers to invest in companies that have the potential to compound their cash flows over the years
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
'Investing in these funds makes sense if their net yield over better-quality funds -- corporate bond funds or banking and PSU funds -- is meaningful.'
AUM heavyweights SBI, HDFC and ICICI Pru flex muscle, adding Rs 2 trillion+ each.
The 13th-month persistency rate of life insurers - an important metric indicating the retention of new policies - declined in the first quarter of 2025-26 (Q1FY26). This fall was primarily driven by a lower share of high-value policies, following taxation changes implemented in April 2023.
New investors should avoid short-term, tactical entries and instead go for staggered buying via ETFs to manage volatility.
Data from Amfi shows that NAV of every one in two BAFs declined 1.5% or less on Monday compared to a 3.13% decline in Nifty 500.
Our focus around technology, cost efficiency, persistency and effective distribution channel will continue, says the ICICI Bank MD and CEO.
The board of ICICI Bank, the country's second-largest lender, will take a final call on appointing a successor to K V Kamath, its present managing director and chief executive officer, next month.
'A staggered investment approach (using SIP or STP) can help investors benefit from this opportunity while reducing timing risk.'
Young investors with a higher risk appetite are better off with a combination of term insurance and equity funds.
SBI Life, ICICI Pru have seen their valuations increase by 33 per cent and 35 per cent recently. SBI Life Insurance has seen its valuation soar after just 3 months while ICICI Prudential's valuation has increased in just 5 months.
Executive Director V Vaidyanathan will assume the position of managing director and chief executive officer of the bank's life insurance arm, ICICI Prudential. This slot had fallen vacant as Shikha Sharma decided to move to Axis Bank.
A strong influx of 11 equity new fund offers (NFOs) in June, particularly within the thematic space, helped mutual funds collect Rs 14,370 crore - the highest ever via such introductory offers. This surpassed the previous high recorded in July 2021, where four NFOs accumulated Rs 13,709 crore, with ICICI Prudential MF's flexicap NFO alone mobilising Rs 9,808 crore.
The company was paying huge sums of money to their channel partners under different heads in lieu of commission.
More than a third of 83 mainboard IPOs this year ended their debut sessions in the red, with losses of up to 35 per cent.
Prudential ICICI's managing director, Shikha Sharma, talks about how the journey has been so far and also why she thinks unit-linked insurance plans are the best allocators of long-term funds.
Do you have financial planning or income tax queries? Ask rediffGURU Anil Rego.
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.
Nimesh Shah, managing director & CEO of ICICI Prudential Asset Management Company, tells Chandan Kishore Kant that he is bullish on the Indian market.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries.
The market capitalisation (mcap) cutoff to qualify for mutual funds' (MFs') largecap universe is likely to go up for the fifth consecutive time to touch the Rs 1 trillion mark for the first time. A fresh list of largecap, midcap, and smallcap stocks is set to be released by the Association of Mutual Funds in India (Amfi) in the first week of January.
The new business premium (NBP) of life insurance companies dropped 21.7 per cent year-on-year (Y-o-Y) to Rs 30,218.71 crore in December 2024 on the back of a steep fall in business. According to data published by the Life Insurance Council, LIC's premium dropped 41.15 per cent Y-o-Y to Rs 13,523.87 crore while private insurers reported 7 per cent growth in NBP to Rs 16,694.85 crore as the industry absorbs the impact of the revised surrender value norms.
Some of the key names include: Maruti, M&M, Ashok Leyland, Britannia, Ultratech, JK Cement, Havells, Voltas, Amber, Metro, Trent, LemonTree, Indian Hotels, Niva Bupa, HDFC Life, IGL, Acme Solar, Suzlon, Swiggy, Delhivery, ICICI Bank, HDFC Bank, Bajaj Finance, Shriram Finance," according to a report by Motilal Oswal Financial Services.
State-backed Life Insurance Corporation of India (LIC) recorded strong growth in the value of new business (VNB) margin in the third quarter of financial year 2023-24 (Q3FY24) while major listed private life insurers reported a weak performance. VNB refers to the profit that an insurer is likely to garner from new business, which comes from policies sold in a particular period. VNB margin is the profit margin of the insurer.
Largecap, flexicap, and balanced advantage funds together recorded a net inflow of Rs 9,363 crore in August, representing a 70% increase from the previous month's total.
The reduction in goods & services tax (GST) on individual life and health insurance premiums has been called a "landmark step" for making insurance affordable and inclusive. In a panel discussion at the Business Standard BFSI Insight Summit 2025, Anup Bagchi, managing director (MD) & chief executive officer (CEO) of ICICI Prudential Life Insurance; Mahesh Balasubramanian, MD & CEO of Kotak Life Insurance; Tarun Chugh, MD & CEO of Bajaj Life Insurance; and Ratnakar Patnaik, MD of Life Insurance Corporation of India (LIC), listed what else the industry needs to reach more people.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
