Global Insurance and Asset Management Giant Prudential PLC said on Wednesday that it evaluates a potential list of its Indian Joint Venture, ICICI Prudential Asset Management Company Ltd. The listing will mean partial divestment of its shares and is subject to market conditions, necessary approval and other considerations, added it.

“India is a strategically important market for prudential, with mandatory growth prospects. We will continue to explore the opportunities to grow our companies in the market, ”a statement from Prudential PLC Read. The company also noted that when the sale is completed, the net profit will be returned to the shareholders. “We will provide an additional update at an appropriate time,” added it.

Stars in the bull

Asset management companies were investors’ favorites during the bull driving, but the latest market correction has turned the script. Volatility causes investors to become jittery, which leads to redemption or changes between systems. Given their deep ties to capital markets, AMCs are affected by operational leverage, Mark-To-Market (MTM) fluctuations and AUM fluctuations. While the long -term outlook remains strong, with financing savings that are expected to drive growth in the coming decade, the short -term performance for these shares will continue to Ebbas and flow with marketing entities.

Also read: S naren SIP warning: reality control or fear?

S Naren, Head of Investment Manager at ICICI Prudential AMC Recently, investors warned Not to spend money in small capital and average funds through systematic investment plans (SIP) in the current market and says these sectors were grossly overvalued. When he spoke at the event of a fund distributor, Naren warned that the risks in the financial system have shifted from banks to SIP investors.

ICICI Bank to maintain the majority share

ICICI Prudential AMC LTD is a strategic joint venture between ICICI Bank, which holds a share of 51% and London-head office Prudential PL, holding 49%. In Wednesday, ICICI Bank said it intends to maintain its majority share holding in the ICICI Prudential Asset Management Company.

Kranthi Bathini, head of stock strategy at Wealthmills Securities, noted that ICICI Bank has a register to note its subsidiaries, including ICICI Securities, ICICI Lombard General Insurance Company and ICICI Prudential Life Insurance Company. So while this move comes from Prudential PLC, it is hardly a surprise considering ICICI Bank’s history, he said.

Anand Dama, head of BFSI at EMKay Global Financial Services, said: “We believe that listing may lead to a certain unauthorized value for the bank, similar to HDFC AMC.”

ICICI Prudential AMC is India’s second largest asset manager of assets under management (AUM). It handles assets worth £8.67 trillion and had 1.26 crore customers at the end of December. It also offers portfolio management services to Indian investors and international advisory mandates to global customers over asset courses such as debt, equity and real estate. The company was launched in 1998 with only six employees in two locations. It now has 3,888 employees in 297 places (from September 30, 2024).