ICICI Pru AMC enters into a partnership with Nordea AM

ICICI Prudential Asset Management Company has entered into a partnership  with Nordea Investment Management AB, Sverige (Nordea AM) the Asset Management entity of the Nordea Group, a leading financial services group with market capitalization of EUR 24 Bn (USD 30 Bn).  Its asset management arm is the 2nd fastest growing asset manager in Europe over the last 6 years.

This exclusive 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.

About the partnership

Under the aegis of this partnership, Nordea will showcase ICICI Prudential AMC exclusively as its Indian advisor/sub-advisor of choice throughout its Retail, Private Banking and Institutional segments across Europe. ICICI Prudential AMC will offer advisory/sub-advisory to Nordea AM's, India focused assets. Nordea AM has expressed its favor 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

The partnership flags off with:

• ICICI Prudential AMC providing advisory/sub-advisory services to Nordea's new Indian fund  the "Nordea 1 India Equity Fund" to be launched in Europe.  
• ICICI Prudential AMC has already received the mandate to offer advisory/sub-advisory services to Nordea's existing Indian fund assets of around USD 250 Mn.

Speaking on the partnership Mr Nimesh Shah, MD & CEO, ICICI Prudential AMC said "This partnership brings together two reputed asset management companies that can leverage on their strengths of investment expertise & 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."

Allan Polack, CEO of Nordea Asset Management said "We are happy to have a partnership with ICICI Prudential AM - a leading and competent asset manager. Our partnership is a matter of close cooperation, knowledge-sharing and developing new opportunities for the European and Indian markets."