ICICI Prudential Portfolio Management Services A joint Venture between ICICI Bank Ltd which is India’s largest private sector bank and Prudential Plc UK, an international financial services company, with significant operations in Asia, US, and the UK. The investment philosophy is based on GARP (Growth at Reasonable Price) which is a blend of two distinct approaches to long-term investment - 'value approach' and 'growth approach. It follows principles of identifying growth opportunities, buying them at reasonable prices and being proactive in dealing with macroeconomic changes.

Mr Anand Shah has more than two decades of rich fund management experience in the Asset Management industry. Anand joined ICICI Prudential AMC in February 2021. In his previous role, he was CEO of NJ Asset Management. Prior to this stint, he was Deputy CEO and Head of Investments at BNP Paribas Asset Management India Pvt. Ltd, responsible for investments and overseeing both onshore and offshore mandates sub-advised and sales. Prior to joining BNP Paribas, he was the Head of Equities at Canara Robeco AMC Ltd for a period of three years starting March 2008. He was previously associated with ICICI Prudential AMC Ltd in the capacity of Co-Head Equities and as Vice President Investments at Kotak Mutual Fund for a period of six years from May 2000 to December 2006. Anand has previously won multiple laurels and prestigious awards for his fund management. He was the recipient of ‘The CIO of the Year Award 2014-15’ from Asia Asset Management and has also won multiple other fund level awards for his investment performance. By qualification, he is a Post Graduate Diploma in Management from Indian Institute of Management, Lucknow and holds a B.E. degree from Regional Engineering College, Surat.

Anand Shah

Mr. Chockalingam Narayanan has over 17 years of extensive experience in Fund Management, Investment Research and Market Analysis. He has been instrumental in analysing business fundamentals to derive relevant and actionable analysis that has portfolio growth. He is consistently relied upon for providing detailed analysis of the macro-economy, financial markets and ESG that serve as some of the key foundation pillars for the various investment strategies that he has worked with in his career. In his career, he has earlier worked with leading organisations like Baroda BNP Paribas Asset Management India Pvt Ltd, Deutsche Equities India Private Limited and Batlivala & Karani Securities. Academically, Mr Chockalingam Narayanan has a Post Graduate Diploma in Management from T A Pai Management Institute, Manipal and a Bachelor of Commerce from G.R.Damodaran College of Science. He has also passed the Financial Risk Manager (FRM) certification by the Global Association of Risk Professionals, USA.

Chockalingam Narayanan

Ms Geetika Gupta is Fund Manager – Portfolio Management Services at ICICI Prudential Asset Management Company Ltd (IPAMC), having joined the company in August 2021. She has over a decade of experience in investments, both in sell-side equity research and buy-side research. Prior to joining IPAMC, she was Vice President at First Voyager Advisors for six years, where she was responsible for the fund's investments in Indian equities.  Prior to that, Ms Gupta was a research analyst at Kotak Institutional Equities for four years (2011-15), covering the Banking and Financial Services (BFSI) space. She began her career in 2007 at Lehman Brothers covering US Equities and later interned with Morgan Stanley, Singapore in the Investment Banking Division in 2010. She comes with deep understanding of the BFSI sector, as well as in B2C businesses in the consumer and technology space. She is an alumnus of IIT Delhi (B.Tech, Chemical Engineering) and IIM, Ahmedabad.

Geetika Gupta

Prem Khurana joined ICICI Prudential Asset Management Company in December 2024 as Senior Fund Manager—PMS Equity. With over two decades of experience in sell-side fundamental research, he specializes in the infrastructure and real estate sectors. Prem currently manages Non-discretionary PMS as well as certain Discretionary Investment Approaches.Prem has built a strong track record, consistently being recognized as a top analyst. He was named "Best Real Estate Analyst" in the Asiamoney polls for three consecutive years (2019-2021) and ranked among the top in the "Best Infrastructure Analyst" categories in 2021 and 2022.Before joining ICICI Prudential, Prem was Associate Director and Co-Head of Research at Anand Rathi Shares & Stock Brokers, leading coverage of the infrastructure and real estate sectors. He also worked at Batlivala & Karani Securities, where he led a team covering the same sectors. Prem has extensive experience in financial analysis, earnings forecasting, and project evaluation, and has built strong relationships with clients and industry stakeholders.He holds a PGDBM in Finance from the Birla Institute of Management Technology.

Prem Khurana

Sandip joined ICICI Prudential AMC in August 2008.Sandip is Associate Vice President in Investments–PMS & AIF at ICICI Prudential AMC Ltd (IPAMC) and he is a part of the Fund Management team for PMS & AIF Investments. Sandip is responsible for tracking models for stock selection based on quantitative factors and research for investments in mutual fund schemes through PMS Multi-Manager Strategies.He joined IPAMC in 2008 and he has been associated with IPAMC for more than a decade, where he has successfully navigated several roles and responsibilities across Business Development and Product Development and Strategy in PMS & AIFs (long only and long short funds).As a part of core team in Alternates, he provides key insights on products and the investment process to both internal and external stakeholders – especially to large corporates,promoters, family offices and distribution partners. He works closely with the business development team, product team for new product and features, road shows, and presentations. He is a CFA Charter holder from the CFA Institute, USA, and also holds a master’s in business administration from MS University of Baroda, Vadodara.

Sandip Santdasani

Investing in under penetrated themes.

ICICI Pru ACE Strategy is ICICI Prudential Alternates' Multi/Flexicap PMS strategy. Unlike boutique, founder led managers, it operates within a large, institutionally backed AMC with a long operating history in Indian asset management. It is based on the belief that long term returns can be generated by investing in businesses benefiting from non zero sum, under penetrated themes in Indian equity markets. Businesses are evaluated through the Business Management Valuation framework, with allocations reflecting conviction.

Investment decisions run through the ACE lens specifically, businesses benefiting from Non Zero Sum, Under Penetrated themes, growth that does not come at a competitor's expense, rather than a generic growth or value label.

A theme with its own name

Being sector and market cap agnostic, the ACE theme is expressed wherever it shows up in the market, rather than confined to a predetermined slice of it.

The theme dictates the map, not the mandate

Even within the ACE theme, portfolio construction is guided by changes in business fundamentals and valuations, not exposure to the theme by itself.

Fundamentals still drive the calls

icici-prudential-ace-portfolio

More than one way to be contrarian.

ICICI Pru Contra Strategy is ICICI Prudential Alternates' Multi/Flexicap PMS strategy. Unlike boutique, founder led managers, it operates within a large, institutionally backed AMC with a long operating history in Indian asset management. It is founded on the belief that investment opportunities arise when market prices diverge from the intrinsic value of businesses due to temporary business, sectoral or market dislocations. The process follows a structured five stage framework, screening companies on financial ratios and liquidity before evaluating them through the Business Management Valuation framework, resulting in a focused, benchmark agnostic portfolio across market capitalisations.

Combines out of favour stocks, businesses in high entry barrier sectors, sectors currently in consolidation, and companies in special situations, rather than relying only on cheap and unloved stocks bouncing back.

Four lenses on contrarian opportunity

Companies pass through in house screening on financial ratios and liquidity, detailed research coverage and the Business Management Valuation framework, in that order, before position sizes are set.

A five stage filter before conviction

Built for a market where valuation dislocations and changing business fundamentals create opportunities beyond the index heavyweights.

Positioned beyond the index heavyweights

icici-prudential-contra-portfolio

icici-prudential-large-cap-portfolio

Betting on companies mid-cycle, not mid-story.

ICICI Pru PIPE Strategy is ICICI Prudential Alternates' PMS strategy that invests predominantly in mid and small cap companies enjoying an economic moat, undergoing special situations, or caught in an unfavourable business cycle. Rather than waiting for a clean growth story to emerge, it looks to buy businesses while they are still mid cycle, priced for their current troubles rather than their underlying quality. Every opportunity is evaluated through the BMV framework, business, management and valuation, aiming to combine three sources of return: earnings growth, a potential re-rating as demand and margins recover, and a margin of safety from buying at a price that already reflects the bad news.

Applies the discipline typically reserved for discounted private placements to listed markets, hunting for hidden or out of favor companies with the same quality and value characteristics.

A private equity mindset for public markets

This strategy's mid and small cap universe spans well over a hundred distinct industries, far more than the roughly 32 available within the Nifty 50. That breadth is what lets PIPE hunt for mispriced or out of favor businesses across such a wide range of sectors in the first place.

Spans a far wider set of industries than a large cap mandate

The strategy's view is that temporary headwinds get ironed out with time, so its case is meant to be assessed on multi year rolling periods rather than any single short term stretch.

ICICI Prudential AMC Ltd

Funds of ICICI Prudential AMC Ltd

Top Fund Managers