Mumbai: India Life Asset Management Company (ILAMC), the country's first and only investment manager solely focused on provident and pension funds, has announced its association with Tecumseh Products India (TPIL), a leader in compressor manufacturing.

ILAMC will manage the provident fund (PF) of TPIL, advising its trustees on the investment strategy given their risk preference, maturity horizon and current portfolio status. ILAMC's strength lies in the domain expertise it brings along with an exhaustive track record.

ILAMC is India's first and only Securities and Exchange Board of India-licensed portfolio manager, solely focused on provident and pension funds. The sole focus on institutional pension and PFs dictates a service offering that ranges from investment advisory to management.

The company will assist trustees to plan and create investment strategies in line with risk and liability profiles and translate these strategies to real time investments through recurring investment advises.

Tecumseh is the world's largest manufacturer of compressors for the refrigeration industry. It is the No1 compressor manufacturer in India and has sold 11 lakh compressors in the last 251 working days of 2002.

Tecumseh is a full-line independent global manufacturer of hermetic compressors for air-conditioning and refrigeration products and is setting global benchmarks in compressor technology. Its fully tropicalised compressors are redefining performance in Indian conditions.

Says ILAMC assistant vice-president Amit Gopal: ''We are excited to partner with world leaders like Tecumseh. ILAMC will plan and create investment strategies in line with risk and liability profiles and translate these strategies to real-time investments through recurring investment advises.''

ILAMC's value-add comes from superior execution capabilities and the ability to reap the benefits of economies of scale along with a state-of-the-art trading room and a dedicated government securities and institutional bond desk.

Says Tecumseh deputy general manager (finance) Anil Kumar: ''We believe that with complexities creeping into PF investing, as a consequence of credit risk rearing its head and interest rates being volatile, an experienced investment manager is the need of the hour. We think ILAMC will add value by virtue of it being solely focused on PFs and their services being advisory in nature. We were impressed by ILAMC's execution capabilities and their focus on portfolio research.''

TPIL has two plants located in Hyderabad and Ballabgarh. It provides comprehensive solutions to customers in the field of cooling while providing an autonomous working environment for employees, tapping their creative potential, bringing out the best in them and optimising stakeholders' returns. Tecumseh already offers non-CFC compressors and looks to the future with products based on emerging sturdy, dependable and eco-friendly technologies.