Kotak Mahindra arm buys Indian schemes of PineBridge MF

20 Sep 2014

1

Kotak Mahindra Asset Management Co Ltd (KMAMC), a wholly owned subsidiary of Kotak Mahindra Bank, has executed definitive agreement to acquire the Indian schemes of PineBridge Mutual Fund, subject to regulatory approvals.

PBI MF is managed by PineBridge Investments Asset Management Co (India) Pvt Ltd.

Gaurang Shah, president for asset management, life insurance and international business at the bank, said, "We have agreed to acquire the schemes of PineBridge Mutual Fund.

The assets included are equity-oriented which provides a further enrichment to our equity base. We have an appetite for further acquisitions which can create value for us and we would be keen to consider such opportunities."

The fund houses share common investment philosophies of selecting robust companies with good management quality. This provides an optimal platform for smooth and efficient integration of the schemes.

As of 31 August 014, the Assets under Management (AuM) of Kotak Mahindra Mutual Fund (KMMF) is approximately Rs.37,000 crore and the AuM of PBI MF is approximately Rs660 crore.

Business History Videos

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more