Top three positions continue to be captured by the same three fund houses namely HDFC, ICICI Prudential Asset Management Company and Franklin Templeton during the past three years, according to the third Annual Wealth Forum Advisor Confidence Survey report.
Independent financial advisors from 42 cities participated in this survey conducted last month and shared their insights on a wide range of business, market, products and asset management company partner confidence parameters.
Private mutual fund house ICICI Prudential Asset Management Company, which is ranked after HDFC Mutual Fund and above Reliance Mutual Fund on the basis of assets under management, has been named as the "most trusted fund house" by the report this year on a variety of key parameters.
ICICI Prudential Asset Management Company ranks number one in categories like creating wealth through equity funds, distributor engagement, training and support, innovation, investor education and convenient and investor friendly processes and approach.
However, it has slipped in ranking to the third slot in debt funds, after Franklin Templeton topped the segment and the number two position was grabbed by Birla SunLife, the report said.
"The recognition by our esteemed financial advisors of ICICI Prudential Asset Management Company across various parameters is a reaffirmation and an acknowledgement of our continued efforts to deliver excellent investment performance," ICICI Prudential Asset Management Company head Nimesh Shah said.
As of June, the average assets under management of ICICI Prudential Asset Management Company has grown by 28 per cent to Rs 1,18,055.7 crore as against the industry which grew at 17 per cent on a year-on-year basis.
"The steady climb of ICICI Prudential from third sport to the second spot and now to the first position over these three years is clearly a key highlight. Also noteworthy is the comeback of Reliance from seventh position to fifth and now the fourth position," the report said.
"Birla SunLife has also moved up a notch this year, in a fiercely competitive market. Axis Mutual Fund, which made its debut at number ten position last year, has moved up to number seven now," the survey report said.