ICRA - ICRA Online launches ICRA Mpower

ICRA Ltd has informed that ICRA Online Ltd, a wholly-owned subsidiary of ICRA Ltd is announcing the launch of ICRA Mpower, a web-based platform for mutual fund distributors and financial advisors, which provides all the tools required for making the distribution business more effective and efficient. A cost effective solution for setting up the business, ICRA Mpower offers mutual fund distributors a gamut of financial tools to cater for both the pre- and post-investment requirements of clients, thereby paving the path for distributors to build enduring relationships with clients on the strength of quality service and appropriate advice.

In this regard the Company has issued the following press release:

"ICRA Online Ltd, a wholly-owned subsidiary of credit rating major ICRA Ltd (an Associate of Moody's Investors Service Inc.), on September 21, 2007 announced the launch of ICRA Mpower, a web-based platform for mutual fund distributors and financial advisors, which provides all the tools required for making the distribution business more effective and efficient. A cost effective solution for setting up the business, ICRA Mpower offers mutual fund distributors a gamut of financial tools to cater for both the pre- and post-investment requirements of clients, thereby paving the path for distributors to build enduring relationships with clients on the strength of quality service and appropriate advice.

Speaking on the occasion, Mr. P K Choudhury, Vice-Chairman & Group CEO, ICRA said, "The wealth management industry in India has been growing at a very rapid pace. The stupendous growth in the stock markets over the last couple of years has generated a lot of interest in mutual funds among retail participants. With more and more investors investing in mutual funds, the number of mutual fund distributors has also increased sharply. We see ICRA Mpower as a facilitator for mutual fund distributors."

A web-based solution, ICRA Mpower provides mutual fund distributors with:

- A decision support system by way of research reports, fund performance analysis etc. to help distributors provide recommendations based on scientific analysis

- Financial planning and asset allocation tools to help invest in a portfolio that best suits the investor

- A versatile CRM tool to track a client's portfolio and generate exhaustive reports on portfolio performance

- A back office solution that offers ease and convenience by allowing import of all clients' transactions directly from the Registrar's files, computation of brokerage, reconciliation of the same with the entitlements, and generation of various important reports on AUM, profitability, individual clients, etc.

"As a distributor, one needs to produce high quality research reports, guide the investor through a proper financial plan and provide regular service by way of periodic portfolio performance and valuation reports. Over and above this, a distributor also needs to manage his back office operations well to plug leakage of income and generate critical MIS. To set up the entire operation, a distributor needs to invest a substantial amount of time and resources in building the infrastructure, and putting in place the right technology and right people. Needless to add, the whole thing calls for a heavy investment, which is generally out of reach of a small financial advisor. ICRA Mpower will provide mutual fund distributors a complete end-to-end solution at a very nominal cost," Mr. Choudhury added.

ICRA Mpower is being offered by ICRA Online, an independent and credible organisation providing information services and software solutions to the financial services community. The effective combination of high quality data, technical expertise and efficient support, differentiates ICRA Online from its competitors. Currently, the Company serves over 250 clients in the country, including major Mutual Funds, Banks, Financial Institutions, Third Party Products Distributors, Investment Advisors, Stock Brokers, Portfolio Managers, Treasury Managers and Academic Institutions. The Company has developed various innovative products to satisfy the varied needs of its audience, and these have found a high level of acceptance.

ICRA Online's earlier products like MFI Explorer, a mutual fund research and analysis product that has been subscribed to by major mutual funds, distributors and multinational banks, has been the market leader in the country. The Company's website MutualFundsIndia.com has also been rated among the best 150 sites in the world by Forbes.

ICRA Online provides customised solutions after a systematic and careful analysis of the business requirements of its clients. The participation of ICRA Ltd reinforces ICRA Online's quality standards and provides further reassurance on the high level of professional and ethical standards followed in providing services to clients. Besides, ICRA's participation allows ICRA Online to leverage the knowledge base of the rating agency in conducting research and assessing market requirements."