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Posted on Jul 05, 09:50PM | UNI
New Delhi, Jul 5: ICICI Prudential Asset Management Company has entered into a partnership with Nordea Investment Management AB, Sverige (Nordea AM), a leading financial services group with market capitalisation of EURO 24 billion (30 billion dollars ).
Its asset management arm is the 2nd fastest growing asset manager in Europe over the last 6 years.
The partnership between ICICI Prudential AMC and Nordea AM allows both entities to capitalize on each other's respective strengths in distribution and investment expertise in the Indian and International markets.
Under the aegis of this partnership, Nordea will showcase ICICI Prudential AMC exclusively as its Indian advisor and sub-advisor of choice throughout its Retail, Private Banking and Institutional segments across Europe.
ICICI Prudential AMC will offer advisory and sub-advisory to Nordea AM's, India focused assets. Nordea AM has expressed its favour for the Multi-Cap Investment Strategy followed on the lines of ICICI Prudential's Dynamic strategy; a strategy that is suited to tackle volatility, which is an established part of markets post the financial crisis ICICI Prudential AMC has already received the mandate to offer advisory and sub-advisory services to Nordea's existing Indian fund assets of around 250 Mn dollars.
Speaking on the partnership Mr Nimesh Shah, MD and CEO, ICICI Prudential AMC said 'This partnership brings together two reputed asset management companies that can leverage on their strengths of investment expertise and distribution to provide the best value to their investors. This partnership will help positions India as an attractive investment destination and ICICI Prudential AMC as an investment manager of choice for investors across Europe and globally.'