Mumbai: Prudential ICICI Asset Management has become India’s first private sector mutual fund to cross the milestone of managing over Rs 10,000 crore of assets. As on 30 November 2002, Prudential ICICI manages assets worth Rs 10258.80 crore and enjoys the trust of over 5,50,000 investors.

Ever since inception, Prudential ICICI has focused on listening to the customer and has believed in establishing and maintaining a long-term relationship with its customers. Prudential ICICI has invested time and effort to understand customer’s investment needs, and this understanding of the customer has helped it in tailoring products and services to suit his needs.

Prudential ICICI’s investment philosophy of rigorous analysis, coupled with strict control measures, has also ensured consistent product performance over the years. Along with the debt funds, PruICICI equity funds like power and growth plan have performed very well over the last one-year.

Says Prudential ICICI AMC chief investment officer Dileep Madgavkar: “The performance of the PruICICI equity funds is an endorsement of Prudential ICICI’s bottom up and rigorous process driven approach to managing funds. Investment decisions are taken by the investment committee, which takes decisions based on detailed equity research and regular meetings with a company's management.”

On the debt side, PruICICI has a separate credit rating analyst, who monitors the quality of the assets over and above the ratings given by credit rating agencies.

Says Prudential ICICI AMC managing director Shailendra Bhandari: “From the very beginning we made the customer the centre of all our efforts. We set up 26 customer service centres across the country and launched a range of products suited to the investors needs. Our vision is to provide the highest levels of customer delight among financial service providers in the country.”

Prudential ICICI’s customer-centric approach begins with educating and training its agents and distributors to understand customer requirements and counsel them accordingly. Over the years, PruICICI has provided innovative services like PruICICI InstaCall (a 24-hour call centre enabling investors across India to update their account information, sell and switch between their investments in various schemes), PruICICI InstaCheque (over-the-counter redemptions) and www.pruicici.com and http://www.pruicici.com (a transaction-enabled website with customised financial planning tools), designed to increase customer convenience and further empower the customer.

Prudential ICICI has established a multi-channel approach to the distribution of its various products and has today an extensive network of customer service centres in 26 cities and over 12,000 customer contact points, comprising partner banks, financial distribution houses and financial advisers.

Says Prudential ICICI AMC senior vice-president (sales, distribution and marketing) Pankaj Razdan: “Our extensive distribution network and the strength of our relationships have given us a leading edge in India’s upcoming mutual fund industry. A major part of the credit for our success goes to our channel partners.”

Prudential ICICI has always been at the forefront of initiatives to educate the Indian customer about mutual funds. PruICICI has invested in communication designed to answer customers’ queries about mutual funds, and has done this throughout the ups and downs of the economy and the markets. Beginning June 2002, Prudential ICICI undertook customer education using, among other media, television, with the aim of reaching ever-larger sections of customers.

Prudential ICICI is today a brand to be reckoned with in the Indian financial sector, and its advertising in the past has won numerous accolades and mentions, such as the 2001 Abby Award for Best Internet Advertising. Using various media effectively has been the hallmark of PruICICI advertising campaigns.

But it does not just advertise; it actively listens and seeks customer feedback. PruICICI has institutionalised real time brand awareness monitors and has undertaken usage and attitude studies on investment options. These measures have enabled PruICICI to receive and implement customer feedback proactively.