Enters financial product manufacturing space
Mumbai, May 8, 2019: ICICI Securities Limited (I-Sec), India’s leading technology based securities firm, today said it has launched its proprietary Portfolio Management Services (PMS) for its HNI and U-HNI clients. With this, the company has entered into financial products manufacturing space –a new revenue stream for the company– from pure play distribution earlier.
PMS is an investment service managed by a professional money manager through which one can play various investment themes.
Mr. Anupam Guha, Head – Private Wealth and Equity Advisory Group, ICICI Securities, said, “We are excited to launch our PMS service as it not only deepens our engagement with our HNI clients but also diversifies our revenue stream to advisory and manufacturing of financial products. Currently we have launched a passive two-factor model and going forward we plan to curate active investment strategies under our PMS banner.“
Index-based investing is gaining prominence worldwide and India is no exception. Products like passive index fund & ETFs are extremely relevant in the current landscape where clients are seeking efficient least cost avenues for investments. The quest for superior risk-adjusted returns over indices has in the meanwhile given rise to smart beta index strategies. Our current offering – Active Index Portfolio Strategy – plays this theme.
Asset Under Management (AUM) of listed equities PMS in India exceeds ` 110,000 crore and has been growing at a CAGR of ~24% since 2010. ICICI Securities, which has an active wealth management practice, has formed a core PMS team, comprising of market experts with deep domain knowledge who are aided with latest technological tools, to assist clients with their investment goals.
About ICICI Securities:
ICICI Securities Limited (I-Sec) is a subsidiary of ICICI Bank Ltd. The company began its operation in May 1995 and continues to grow its operation through expanding its client base and providing different type of services. ICICI Securities Ltd is a technology-based firm offering a wide range of financial services including investment banking, institutional broking, retail broking, private wealth management, and financial product distribution. ICICI Securities sees its role as ‘Creating Informed Access to the Wealth of the Nation’ for its diversified set of clients that include corporates, financial institutions, high net-worth individuals and retail investors. ICICI Securities is listed on National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). For details, visit: www.icicisecurities.com