Pramerica receives SEBI approval

Pramerica receives SEBI approvalPramerica Asset Managers Private Ltd, the Indian operations unit of the US based Prudential Financial, Inc. (Pramerica Financial) recently said that the company has received the approval of the market regulator Securities Exchange Board of India (SEBI) to start its operations in the mutual funds market.

In fact, according to the release issued by the company, Pramerica Asset Managers Pvt. Ltd. has received an approval from SEBI to act as an Investment Manager of Pramerica Mutual Fund. It may be noted here that this was the last approval which was required by Pramerica Financial to commence its operations in the Indian mutual fund market.

Chris Cooper, Chairman and CEO of Pramerica Financial International Investments unit said that the company is very excited about getting the approval from SEBI and will look forward to growing and protecting the money of its investors that will be in line with its global philosophy. Vijai Mantri, MD & CEO of Pramerica Asset Managers Private Ltd said that the approach will be to reach to the retail investors and help them to reach to meaningful solutions. In fact, Mantri also said that there have been trends where there has been a gap in the dreams and aspirations of investors and reality, the company will try and minimize that.