ICICI Pru MC moves up to No.2 position, HDFC retains top slot

ICICI Prudential Mutual Fund posted an industry-best year-on-year growth of 22% in the quarter to March, helping its asset base expand to Rs 1.07 lakh crore, according to data from the Association of Mutual Funds in India (AMFI). The fund, however, failed to dislodge HDFC Mutual Fund from the No. 1 position with average assets under management at Rs 1.13 lakh crore. The growth came despite the industry struggling from redemption pressure and declining investor folios. ICICI Prudential Mutual Fund has diversified portfolio of around 57 mutual fund products across various asset classes like equity, fixed income and gold. Over the last 18 years, the fund house has emerged as one of the leading and preferred investment solutions provider with an investor base of over 20 lakh. "Investors increasing their investment outlays with ICICI Prudential Mutual Fund is an affirmation and acknowledgement of our efforts to deliver excellent investment performance. We continue to strive to deliver consistent performance to investors through our wide range of well positioned products," said Nimesh Shah, managing director & chief executive officer at ICICI Prudential Mutual Fund.