New Delhi: ICICI Prudential Mutual Fund has been appointed by the government to manage the second Central Public Sector Enterprises (CPSE) exchange traded fund (ETF) comprising public sector undertakings’ (PSUs) stocks in the current fiscal with an estimated corpus of Rs6,000 crore. “The department of investment and public asset management, the ministry of finance, appoints ICICI Prudential Asset Management Company (AMC) for creation and launch of a new ETF,” ICICI Prudential Mutual Fund said in a statement. The mandate for managing the first CPSE ETF was given to Goldman Sachs Mutual Fund, which has since been acquired by Reliance Mutual Fund. “The appointment of ICICI Prudential AMC as an asset manager for the ETF mandate is an important milestone for us. ICICI Prudential AMC is the country’s largest mutual fund house, having an asset under management of over Rs2.17 lakh crore at August-end.

Source: Mint September 23, 2016 12:45 UTC