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ICICI Prudential AMC ties up with Europe's Nordea

Press Trust of India / Mumbai 05 Jul 12 | 06:56 PM

ICICI Prudential Asset Management Company has entered into a partnership with Europe's Nordea Investment Management AB to capitalise on each other's respective strengths in distribution and investment expertise in the Indian and International markets.

"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," ICICI Prudential AMC Managing Director and CEO Nimesh Shah said in a release here today.

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The tie-up will help position India as an attractive investment destination and ICICI Prudential AMC as an investment manager of choice for investors across Europe and also globally, he added.

Under the pact, Nordea will showcase ICICI Prudential AMC exclusively as its Indian advisor or sub-advisor of choice throughout its retail, private banking and institutional segments across Europe. ICICI Prudential AMC will offer advisory or sub-advisory to Nordea's India-focused assets.

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

Nordea Investment Management is the AMC arm of Nordea Group, the largest financial group in Northern Europe and amongst top 10 banks in Europe with a market capitalisation of EUR 24 billion ($30 billion).

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