ICICI Prudential MF FMPs given high AAAF ratings by Crisil

December 6, 2008 by  

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ICICI Prudential MF FMPs have been given a superior AAAF rating by Crisil

crisil fmp ratingsCrisil , the credit rating agency has given a high rating to ICICI Prudential Mutual Fund’s FMPs. This fantastic rating for 35 of ICICI Prudential Mutual Fund FMP schemes is a huge boost for ICICI Prudential FMPs and fixed maturity plan schemes in general

The high rating for ICICI Prudential Mutual Fund’s FMPs indicates that the “credit risk” for these fixed maturity plans is limited

Recently, fingers have been pointed at FMPs for investing their assets in risky debt portfolios, including real estate companies and NBFCs. It looks like ICICI Prudential Mutual Fund’s FMP managers deserve a pat on the back for being conservative in their debt portfolios, leading to a lower credit risk

ICICI Prudential MF FMPs also score high in transparency

By publishing a regular fact sheet indicating their portfolios, ICICI Prudential MF FMPs have also demonstrated a high degree of commitment to transparency in their FMP portfolio investments

Crisil giving ICICI Prudential Mutual Fund a high rating for it FMPs is a short in the arm for the reputation of ICICI Prudential as a mutual fund house

FMP schemes from mutual fund houses have come under great scrutiny in the recent past and allegations of poor portfolio allocation and exposure to credit risk have been made against mutual fund houses in general

In this context, by giving ICICI Prudential FMPs a high rating, for over 35 FMPs, Crisil seems to be suggesting that ICICI Prudential is one of the better managed mutual funds with enough checks and balances in place

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