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Sankaran Naren and Nimesh Shah with a handful of Morningstar awards : ICICI Prudential has created history, by being the first fund house since the inception of these awards in India to bag all three fund house awards.
Speaking on the occasion, Nimesh Shah, MD & CEO, ICICI Prudential AMC said "Morningstar's recognition of ICICI Prudential Mutual Fund as Best EquityFund House, Best Debt Fund House and Best Multi Asset Fund House is areaffirmation and an acknowledgement of our efforts to deliver excellentinvestment performance. We at ICICI Prudential remain committed to beinginvestor centric and investment centric. As a fund house we will continueto strive to delivering consistent performance to our investors through ourwide range of well positioned products".
Still miles to go…
ICICI Prudential AMC is at a pinnacle of achievements, following up its Lipper award last year with a clean sweep of the Morningstar fund house awards this year. Many experts believe that with sales momentum on its side, they won't be surprised to see ICICI Prudential take the pole position in terms of AuM sometime in the next fiscal year.
Nimesh has successfully built and institutionalized a robust platform which is enabling the organization to reap the rewards in terms of consistent award winning performance and solid sales momentum that is helping it make a dash for the pole position. What now is Nimesh's unfinished agenda? Is it now about securing the No.1 position by assets? We asked Nimesh this question and what emerged is that he is thinking far beyond a no 1 or a no 2 position in AuM league tables. Here is what he shared with us:
"Our big challenge is how to ensure that these processes work equally well at a much larger scale. Lets understand this very clearly. The MF industry is still very small - if equity assets are around Rs.200,000 crores in a country as vast as India, the opportunity is far in excess of where we are. The retail opportunity is still largely untapped. I see the industry gaining scale on all fronts in the years ahead. As an industry, we still haven't been able to make meaningful inroadsinto managing real estate assets, which is a very big investment category in India. We are already advising on substantial overseas assets, but the opportunity to grow that piece manifold is immense. We haven't been able to find a way to manage commodity assets. We have a lot of work to do yet on alternate assets. Structured products are as yet an under-developed category. There are opportunities to gain in scale on several fronts in the coming years. In this context, the biggest challenge that we face, the one that I focus on more, is about how we are going to seamlessly manage growth, how we are going to ensure that the processes we have put in place, which are delivering today, continue to support our business as it grows to a much larger scale. We believe that keeping the focus on this aspect will help us to continue to keep the faith of investors who have trusted us and win the trust of new investors who we hope to attract in the coming years."
Like a true visionary, Nimesh has already set his sights on what he sees as the opportunities and challenges 5 years ahead, and is putting in the spade work now, to ensure that his fund house continues to maintain its winning ways - not just in the months ahead - but in the years ahead.
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