JAMMU, Mar 8: ICICI Prudential Mutual fund has bagged Best Fund House award in the 23rd edition of Business Today – Money Today Financial Awards 2018-19, held recently in the financial capital.
These awards recognise the best in the financial services industry with the award categories spread across Banks, Fintech firms, Mutual funds, Insurance companies and Pension funds.
ICICI Prudential AMC was adjudged as the winner for the ‘Best Fund House’ overall in the mutual fund category. As of January 2019, ICICI Prudential AMC managed assets worth Rs 3.20 lakh crore and has been among the top performers across equity and debt market. L&T Mutual Fund and IDFC Mutual Fund won the best fund managers award in equity and debt categories, respectively.
The guest of honour for the evening was Anand Sinha, former Deputy Governor of the RBI. Speaking from a regulatory perspective, Sinha, who also served as a member on the board of SEBI, suggested the vulnerability comes from failure of corporate governance, risk management and unethical practices.
The prestigious awards function was attended by an august gathering from the financial services industry. In his keynote address, Prosenjit Datta, Editor at Business Today, addressed about the disruptions that mutual fund and insurance policy managers have had to deal with and yet how they emerged as winners.
He also highlighted the hard core issues that established banks faced all this while. “Some of the big banks of yore have got into serious trouble with non-performing assets because of lax risk assessment and over aggressive lending. The best banks have also had to deal with a situation wherein corporate credit off take has been low, and technology is eating into margins,” he said.
The award ceremony had an interesting panel discussion on ‘How to Retire Rich’. The panel comprised of distinguished individuals such as Nimesh Shah, MD & CEO, ICICI Prudential AMC, Sumit Shukla, MD & CEO, HDFC Pension Management, Gayathri Parthsarathy, India Head (Financial Services), KPMG, Pankaj Kapoor, Founder & MD, Liases Foras Real Estate Rating & Research Pvt Ltd and Pankaj Mathpal, Founder and Managing Director, Optima Money Managers.