(Sankaran Naren, CIO, ICICI Prudential AMC and Nimesh Shah, MD & CEO, ICICI Prudential AMC with the Morningstar awards)
ICICI Prudential AMC Makes a Sweep at Morningstar India Fund Awards 2014 event as it won all the three major fund house Awards as follows. ICICI Prudential AMC is the first fund house to achieve this distinction since the inception of Morningstar's awards in India.
Fund House Winners
Best Fund House—Debt: ICICI Prudential Asset Management Company Limited
Best Fund House—Equity: ICICI Prudential Asset Management Company Limited
Best Fund House—Multi-Asset: ICICI Prudential Asset Management Company Limited
The Morningstar India Fund Awards recognises funds and fund houses that added the most value for investors within the context of a relevant peer group in the past year and over longer time periods. Morningstar names eight fund category winners and three fund house winners by applying a quantitative methodology, with a qualitative overlay, which emphasizes one-year performance but also considers the three- and five-year performance history of all eligible funds.
The company adjusted returns for risk using a proprietary screen that imposes a higher penalty for downside variation in a fund’s return than upside volatility.
Aditya Agarwal, managing director of Morningstar India, said, “The Morningstar Awards are designed to help investors identify the year’s most exceptional funds and fund houses. With these awards, we honour the funds and fund houses that outperformed their peers and added value for investors.”
Speaking on the occasion, Mr. Nimesh Shah, MD & CEO ICICI Prudential AMC said -
"Morningstar's recognition of ICICI Prudential Mutual Fund as Best Equity Fund House, Best Debt Fund House and Best Multi Asset Fund House is a reaffirmation and an acknowledgement of our efforts to deliver excellent investment performance. We at ICICI Prudential remain committed to being investor centric and investment centric. As a fund house we will continue to strive to delivering consistent performance to our investors through our wide range of well positioned products".
Advisorkhoj Congratulates Mr. Shah and his entire team at ICICI prudential Mutual Fund for getting the Awards and also for the rare distinction of becoming the first fund house to win all three major fund house awards for the first time since inception of Morningstar Awards..
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