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The Department of Investment and Public Asset Management, Ministry of Finance has appointed ICICI Prudential Asset Management Company Ltd as the asset management company for the creation and launch of a new Exchange Traded Fund (ETF).
The new ETF will comprise of shares of listed CPSEs and other corporates. ICICI Prudential AMC is India’s largest asset manager having assets under management of Rs 2,17,030 crore (closing AUM as on 31st August 2016).
Commenting on this appointment, Nimesh Shah, MD & CEO, ICICI Prudential AMC, said, “The appointment of ICICI Prudential AMC as an asset manager for the ETF mandate is an important milestone for us. We have been considered as a trustworthy asset manager by domestic investors as well as foreign institutional clients on the active management space and are building on our current position in the ETF segment.”
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