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Informist, Monday, Jul. 13, 2026

--ICICI Pru AMC: Our GIFT City fund, Smart Navigator Fund, gaining traction 

NEW DELHI – ICICI Prudential Asset Management Co. Ltd.'s first GIFT City offering, the ICICI Prudential Smart Navigator Fund, an inbound fund, is seeing strong traction, the management said Monday. "It is encouraging to see that the fund is gaining traction and witnessing growing investor interest," the management said at a press conference after announcing the company's results for the June quarter.

The management said the company is continuously evaluating additional product opportunities in the GIFT City across both inbound and outbound categories and will launch them in due course.

Inbound funds in GIFT City International Financial Services Centres are investment vehicles that channel foreign capital into India through a regulated international framework. They allow non-resident investors to invest in Indian assets while bypassing many of the complexities of the domestic route.

In the June quarter, the asset management company posted a net profit of INR 9.65 billion on revenue from operations of INR 15.64 billion. Monday, the company's shares ended at 3205.60 on the National Stock Exchange, up 1.5% from the previous close. The company announced its June quarter results after market hours.

Regarding expansion plans, the company's management said it plans to expand beyond tier-III and tier-IV cities, based on input from regional heads. "We are completely committed wherever we believe there is good scope for business and people are ready to invest in mutual funds... we are happy to take a call and start offices there," the company management said. 

The management said that expansion is at the regional head's discretion. "If the regional head of a state feels that he wants to increase, he keeps on increasing. This is a very dynamic thing. Every year, the local offices will decide how much expansion we will do," the management said. Currently, the company has 286 office branches, including branches in Dubai and GIFT City, the company said in its investor presentation for the June quarter.  

The asset management company said the specialised investment fund category holds long-term potential. It added that the structure of these products gives fund managers greater flexibility in portfolio construction, risk management, and implementation of differentiated investment strategies. "The category is still at an early stage of evolution, and we believe further economic, investor awareness and advisor participation will be important for the category to scale meaningfully over time," the asset management company said. 

The company's quarterly average assets under management in the specialised investment fund category were INR 26.78 billion as of Jun. 30, compared with INR 135.84 billion for the industry, the company said. The company's quarterly average assets under management were INR 11.17 trillion as of Jun. 30, up over 18% on year.  End

Reported by Vaishali Tyagi and Kabir Sharma

Edited by Saji George Titus

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