The Hindu Business Line : PruICICI bags `Asia Asset Management' award

Prudential ICICI Asset Management Company received the `Best of Best Most Improved Fund House Award' at the Asia Asset Management Awards ceremony held in Hong Kong recently.

The award was presented under the Country category for the calendar year 2005, a press release here said.

The Award programme covers asset management companies across Asia, including China, Taiwan, Korea, Thailand, Malaysia, Singapore and Hong Kong. Asia Asset Management is a Hong Kong-based magazine that specialises in the pension and fund markets. Besides PruICICI, three other Prudential (UK) group companies in Asia, including the Korea-based PCA Investment Trust Management, Prudential Unit Trusts Singapore and Prudential Unit Trusts Bhd, bagged Best of Best awards in various categories.

Last year, Prudential ICICI AMC witnessed an overall increase in its assets by 23 per cent, with its equity assets having more than doubled. The fund house's equity market share increased during the last year from 6.3 per cent to 8.3 per cent and its investor base grew by more than 60 per cent. The retail contribution to the total pie also increased by 14 per cent during the last year. As of January 31, 2006, Prudential ICICI's assets under management stood at Rs 22,683 crore.

After receiving the award, Mr. Pankaj Razdan, Managing Director, Prudential ICICI AMC said, "At PruICICI, it is our constant endeavour to achieve excellence in our business as we serve our investors. It is encouraging for us to be recognised for our efforts."

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