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.
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The factor fund launch spree by mutual funds (MFs) is moving from the passive to the active space. Two new fund offerings (NFOs) - ICICI Pru Active Momentum Fund and Bandhan Multi-Factor Fund - are currently open for subscription. Sundaram MF's multi-factor fund NFO closed this Wednesday.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
ICICI Pru's IPO is being managed by 10 investment banks, including Bank of America Merrill Lynch and ICICI Securities
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Top Indian private sector lender ICICI Bank, which owns nearly 68 percent of the insurer, is selling up to 181.34 million shares in the IPO.
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.
'If through growth and serving the customer we become number one, we will be very happy and very proud.'
AUM heavyweights SBI, HDFC and ICICI Pru flex muscle, adding Rs 2 trillion+ each.
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Our focus around technology, cost efficiency, persistency and effective distribution channel will continue, says the ICICI Bank MD and CEO.
Private life insurers experienced reasonable growth in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24), and the October data is also encouraging. The individual weighted received premium (WRP) for private players grew by 19.8 per cent year-on-year (Y-o-Y) in October. However, Life Insurance Corporation (LIC) of India had slower growth, pulling the industry growth rate down to 13 per cent Y-o-Y.
Private players continued to show strong momentum in the life insurance individual new business segment during August, 2023. On an aggregate, the industry registered 14 per cent growth year-on-year (Y-o-Y) compared to 15 per cent in July '23. Private players were up 21 per cent Y-o-Y, up from 16 per cent Y-o-Y in July '23, while public insurers' growth was muted at 3 per cent.
The mutual fund industry's QAAUM (Quarterly Average Assets Under Management) was up 37 per cent year-on-year (Y-o-Y) (9 per cent Q-o-Q) to hit Rs 59 trillion (end Q1FY25). The equity segment grew 55 per cent Y-o-Y and equity formed 56 per cent of total AUM, up 49 per cent in Q1FY24. Sequentially, AUM grew by Rs 5 trillion.
'It's advisable not to go overboard on a banking sector fund or any other sector fund.'
Biometric cards contain the details of policyholders such as name, age, address and finger prints. Besides helping the customers to pay their renewal premiums, the card will facilitate claim processing. It authorises transactions based on the customer's fingerprints.
Leading private financial players HSBC and ICICI Prudential along with country's largest bank SBI have been shortlisted to manage about Rs 25,000 crore (Rs 250 billion) in provident fund of about four crore employees annually.
Imagine transforming a modest Rs 10,000 monthly investment into a steady Rs 1 lakh monthly income in your retirement years. This is the power of compounding -- a strategy that rewards you for starting early and staying consistent with your investments, says Ramalingam Kalirajan.
Nimesh Shah, managing director & CEO of ICICI Prudential Asset Management Company, tells Chandan Kishore Kant that he is bullish on the Indian market.
"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.
The company was paying huge sums of money to their channel partners under different heads in lieu of commission.
The insurer is a venture between banking major ICICI Bank and the UK's Prudential Corporation Holdings. Singapore's Temasek and Premji Invest are also the shareholders.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Ulhas Joshi, Head -- Sales, Rank MF, a mutual fund investment platform, answers your queries.
The country's largest private sector life insurer, ICICI Prudential Life, on Wednesday said it will hire 3,000 people in the next two months, debunking reports of any reduction in workforce.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
'To achieve a corpus of Rs 10 crores in the coming years, I would suggest you increase your SIP, advises Nikunj Saraf, vice president, Choice Wealth.
rediffGURU Ulhas Joshi answers your mutual fund queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Do you have financial planning queries? Ask rediffGURU Abhishek Dev.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries.
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