OFFER DOCUMENT

Prudential ICICI Balanced Fund
SEBI has, in terms of its letter No.MFD/LV/059/00 dated January 31, 2000 approved an amendment to Trust Deed. The amendment
authorizes the Trustee to decide upon the Trusteeship Fee to be charged from the Mutual Fund at the beginning of each financial
year (April 1 to March 31), subject to the maximum limit of 0.05% to be arrived at as indicated above. The amendment does not
in any way, adversely impact or alter the interests of Unitholders under the existing schemes of the Fund.
C) MANAGEMENT OF ASSET MANAGEMENT COMPANY (AMC)
ICICI Asset Management Company Limited (I-AMC), a company registered under the Companies Act, 1956, was established by
ICICI as its wholly owned subsidiary, to act as the Investment Manager of the ICICI Mutual Fund vide the Investment Management
Agreement dated September 3, 1993. Consequent to a review of long-term business strategy of the AMC, it was decided to
further strengthen commitment to the individual investor segment. As a part of this Scheme, Prudential plc. (formerly known as
Prudential Corporation plc.) of the UK (Prudential) was inducted as the new joint venture partner.
Prudential plc of UK, through its wholly owned subsidiary, Prudential Corporation Holdings Limited, has been issued and
allotted shares aggregating 55% stake in the share capital of the AMC. Whereas the balance 45% shareholding in the AMC is
being held by erstwhile ICICI and is under process of being transferred to ICICI Bank Ltd., that would hold 30% of the paid-up
capital of AMC and the balance 15% will be held by a subsidiary of ICICI Bank Ltd. (ICICI Venture Funds Management Company
Limited), in order to ensure adherence with the provisions of Section 19(2) of the Banking Regulation Act, 1949.
I-AMC was approved by SEBI to act as the Investment Manager of ICICI Mutual Fund vide its letter No.IIMARP/MF/22356 dated
October 12, 1993. Consequent to the restructuring of shareholding pattern as stated above, SEBI vide its letter No.IIMARP\631\98
dated March 11, 1998 accorded its approval for the induction of Prudential plc (through its wholly own subsidiary, Prudential
Corporation Holdings Limited) as a shareholder of the AMC. The AMC has applied and secured approval from the Registrar of
Companies, Delhi and Haryana, for its change of name to Prudential ICICI Asset Management Company Limited, vide letter
No.21/55-54135/320 dated March 26, 1998.
The AMC will manage the schemes of the Fund, including the Scheme mentioned in this Offer Document, in accordance with the
provisions of Investment Management Agreement, the Trust Deed, the Regulations and the objectives of each of the schemes.
AMC has obtained registration from SEBI vide Registration No.INP000000373 dated February 29, 2000 read with a renewed
certificate dated February 27, 2003, to act as a Portfolio Manager under SEBI (Portfolio Managers) Regulations, 1993. Further,
the Mutual Funds Division of SEBI, vide its letter no. MFD/LV/248/2000 dated May 10, 2000, conveyed its no objection for the
AMC undertaking PMS activities subject to the AMC complying with the requirements as envisaged in Regulation 24(2) of SEBI
(Mutual Funds) Regulations, 1996. The AMC has commenced the Portfolio Management activities, after complying with the
regulatory requirements.
i) Board of Directors of the AMC
Mr. Ajay Srinivasan
Prudential Corporation Asia, Suites 2910-14, Two Pacific Place, 88, Queensway, Hongkong.
Mr. Srinivasan is the Managing Director of Funds Prudential Corporation Asia responsible for its mutual funds / Institutional
Funds business in Asia. Mr. Srinivasan was the Managing Director of the Prudential ICICI Asset Management Company Ltd.
during the period March 1998 to December 2000 and was responsible for the development of business of the Company and its
day-to-day management.
Mr. Srinivasan has significant experience in managing asset management companies. As the Deputy Chief Executive of ITC
Threadneedle AMC. Mr. Srinivasan was part of the team responsible for making policy for ITC Threadneedle AMC Ltd and was
also head of the fund management function. Prior to his tenure at ITC Threadneedle, Mr. Srinivasan was a member of the ITC
Group’s Financial Services Division and was responsible for establishing, planning and running several businesses at ITC,
including the stock broking business, Over the Counter Exchange business, the private equity business and investment banking
business.
Mr. Srinivasan began his career at ICICI where, as a part of project appraisal team, he assessed the feasibility of several projects
in various sectors.
Mr. Srinivasan has a Post Graduate Diploma in Business Management from Indian Institute of Management, Ahmedabad,
specializing in finance. He has a Bachelor’s Degree in Economics (Honours) from St. Stephens’ College, New Delhi.
Mr. Ananda Mukerji
301, Radhika Apartments, Off. Sayani Road, Prabhadevi, Mumbai 400 025
Mr. Ananda Mukerji has a B Tech degree in Mechanical Engineering from the Indian Institute of Technology, Kharagpur and a
Post-graduate Diploma in Management from the Indian Institute of Management, Kolkata. He has over 17 years experience
including 11 years at ICICI during which he set up and managed a number of businesses including the infrastructure finance,
structured finance and advisory businesses. He also worked as Executive Assistant to the Managing Director & CEO, and Head of
Strategy. Since January 2002, he has headed ICICI OneSource Limited, the ICICI group’s Business Process Outsourcing (BPO) arm,
as its Managing Director & CEO.
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