Interactive session on Mutual Funds by ICICI Prudential

Kolkata, 01st August 2016 : ICICI Prudential organized an Interactive Session on Mutual Funds in Kolkata. The session highlighted the recent growth of ICICI Prudential in India and particularly in the North East. People have shown their trust and interest in ICICI Prudential. The session was on Financial Planning and Investment opportunities and opportunities available and scope for Investors in current market. Mr. Gaurang Ganeriwal, Regional Head, ICICI Prudential AMC & Mr. Shibu Das, Independent Financial Advisor were present at the interaction. The information was shared through a press release.

ICICI Prudential believes that equities can be the best asset class over the next 2-3 years and investors should continue to invest with a long term view and through SIPs. Indian equities could do well compared to other emerging markets owing to favorable domestic macroeconomic factors and low crude oil prices. From a one-year perspective, we believe the Indian economy is in a comfortable position based on the steep fall in crude oil prices over the last year and the healthy outlook on monsoon this year. For us, a normal monsoon is one of the most important factors for the markets. India’s current account is also now almost neutral. India looks attractive on most of the parameters such as Market cap to GDP, expected growth rate, macro stability and proactive government policies. From a valuation perspective, markets are neither expensive nor cheap. Investors are recommended to invest systematically in equities. On the fixed income side and for conservative investments, we are recommending short to medium term funds.

Mr Gaurang Ganeriwal, Regional Head, ICICI Prudential AMC (North East & West Bengal), said, ”Despite the fact that the MF industry is one of the best regulated sectors in India, people having a MF portfolio in India comprise of less than 3% of the Indian population. MF products work well for the final investor and the industry has created tremendous wealth for investors. Today there are more than 4.8 crore investor folios and around a crore of these are in Sips. Total industry size is around 14 lakh crores and growing participation from retail investors and huge inflows in equity schemes led to an increase in the mutual fund (MF) industry’s assets base during the quarter of April-June. Inflows into systematic investment plans (SIPs) for equity schemes have been rising. The monthly SIP book has risen to nearly 3000 Crores per month from 1800 crores in March 2015.Besides, mutual funds added nearly 7.85 lakh investor accounts in the first two months of the current fiscal, taking the total number of folios to a record 4.84 crore.