Mutual fund firm ICICI Prudential Mutual Fund has obtained the Leadership Award on the Finnocity 2020 Award for Managing Credit Risk in Debt Mutual Funds. The award has been given to the corporate by the Banking Frontier within the Association of Deloitte.
Nimesh Shah, MD and CEO of ICICI Prudential Mutual Fund, mentioned on receiving the award, "We arrange an unbiased credit score evaluation ten years in the past, separating credit score danger administration from fund administration. This protects the fund home from any sort of fallacy within the credit score choice. Because of this, this fund home has the very best market share of 15.6 % in debt even in a difficult setting. Its AUM in debt has additionally elevated by 35 % within the final 12 months whereas the expansion of the fund trade has been 17.7 %.
According to him, the corporate believes that as an alternative of working again from excessive rate of interest, unbiased evaluation of credit score needs to be achieved and there’s no danger on the funding of the traders. <! –
The main jury for the award included former chairman of Overseas Bank of India M. Narendra, former Chairman of OBC Bank T. Y. Prabhu, former chairman of Dena Bank, Ashwini Kumar, former chairman of Central Bank M. Mint included.