Download Tax Saving Mutual Fund Application Forms
Invest In Tax Saving Mutual Funds Online
Leave a missed Call on
94 8300 8300
According to media reports, ING was negotiating to value the deal at 5-7 percent of its AUM, but some experts believe that the deal would close much lower given that majority of ING's assets are fixed income, which usually fetch lower valuations. Industry sources indicate that the deal has been sealed below this range.
Birla Sun Life Mutual Fund has acquired all mutual fund schemes and portfolio management accounts of ING Investment Management (India) Private Limited worth Rs 1,100 crores.
According to media reports, ING was negotiating to value the deal at 5-7 percent of its AUM, but some experts believe that the deal would close much lower given that majority of ING's assets are fixed income, which usually fetch lower valuations. Industry sources indicate that the deal has been sealed below this range.
ING has joined the fray of foreign fund houses exiting domestic market. Earlier, US-based Fidelity and Morgan Stanley offloaded assets to L&T MF and HDFC MF respectively. For the past few years, the Indian mutual fund industry has been grappling with major issue of lack of participation by investors and weak stock market performance in recent years.
Ajay Srinivasan, Chief Executive – Financial Services, Aditya Birla Group said, "Birla Sun Life Mutual Fund manages assets over Rs one lakh crores today. Committed to help grow the mutual fund industry and increase outreach, we have bought over the schemes and are committed to providing our top quality products and services to over 75,000 customers of ING Investment Management India. This acquisition adds average assets of Rs 1,100 crores to our AUM."
As on 31 March, 2014 ING Investment Management's assets under management stood at Rs 563 crore in its domestic mutual fund business. Birla Sun Life is India's fourth largest asset management company. The investment manager of Birla Sun Life Mutual Fund, is a joint venture between the Aditya Birla Group and the Sun Life Financial Inc. of Canada.
Speaking on the development, A. Balasubramanian, CEO, Birla Sun Life Asset Management Company Limited said, "We found a strategic fit in the acquisition of schemes of ING Investment Management India. Beyond AUM, this adds to our existing investor base and we see an opportunity to increase the penetration. We welcome ING customers."
"While we remain committed to building retail penetration for mutual funds, the acquisition also helps enhance our alternate assets with new offerings in Portfolio Management Services adding to our HNI investor base", added A. Balasubramanian.
L&T Mutual Fund, Axis Mutual Fund and BNP Paribas were among the other big names in the fray who were eyeing the Indian assets of this Dutch financial services company.
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
Leave a missed Call on 94 8300 8300
Leave your comment with mail ID and we will answer them
OR
You can write back to us at
PrajnaCapital [at] Gmail [dot] Com
---------------------------------------------
Invest Mutual Funds Online
Download Mutual Fund Application Forms from all AMCs
Download Mutual Any Fund Application Forms
---------------------------------------------
Best Performing Mutual Funds
- Largecap Funds Invest Online
- DSP BlackRock Top 100 Fund
- ICICI Prudential Focused Blue Chip Fund
- Franklin India Bluechip
- ICICI Prudential Top 100 Fund
B. Large and Midcap Funds Invest Online
- ICICI Prudential Dynamic Plan
- HDFC Top 200 Fund
- UTI Dividend Yield Fund
- Birla Sun Life Front Line Equity Fund
- Franklin India Prima
C. Mid and SmallCap Funds Invest Online
- Reliance Equity Opportunities Fund
- DSP BlackRock Small & Midcap Fund
- Sundaram Select Midcap
- IDFC Premier Equity Fund
- Birla Sun Life Dividend Yield Plus
- SBI Emerging Businesses Fund
- HDFC Mid-Cap Opportunities Fund
- ICICI Prudential Discovery Fund
D. Small and MicroCap Funds Invest Online
- DSP BlackRock MicroCap Fund
2.Franklin India Smaller Companies
E. Sector Funds Invest Online
- Reliance Banking Fund
- Reliance Banking Fund
- ICICI Prudential Banking and Financial Services Fund
F. Tax Saver Mutual Funds Invest Online
1. ICICI Prudential Tax Plan
2. HDFC Taxsaver
- DSP BlackRock Tax Saver Fund
- Reliance Tax Saver (ELSS) Fund
G. Gold Mutual Funds Invest Online
- Relaince Gold Savings Fund
- ICICI Prudential Regular Gold Savings Fund
- HDFC Gold Fund
- Birla Sun Life Gold
H. International funds Invest Online
1. Birla Sun Life International Equity Plan A
2. DSP BlackRock US Flexible Equity
3. FT India Feeder Franklin US Opportunities
4. ICICI Prudential US Bluechip Equity
5. Motilal Oswal MOSt Shares NASDAQ-100 ETF
