Birla Sun Life Asset
Management Company Limited (BSLAMC), a part of Aditya Birla Financial Services
Group (ABFSG), and investment manager for Birla Sun Life Mutual Fund (BSLMF)
announced, subject to applicable Regulatory and other approvals, the acquisition
of all Mutual Fund schemes and Portfolio Management accounts of ING Investment
Management (India) Private Limited.
 |
| Mr. Ajay Srinivasan, Chief Executive – Financial Services, Aditya Birla Group |
Sharing his thoughts
about the acquisition, Mr. Ajay Srinivasan, Chief Executive – Financial
Services, Aditya Birla Group said, “Birla Sun Life Mutual Fund is one of
the key businesses for Aditya Birla Financial Services Group. As of today it
manages assets over INR 1 lakh crores supported by its strong investment
performance and industry vintage of twenty years. 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 INR 1,100 crores to our AUM.”
 |
| Mr.A. Balasubramanian, CEO, Birla Sun Life Asset Management Company |
Speaking on the
development, Mr. 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.
The fourth largest
mutual fund in India, Birla Sun Life Mutual Fund has over INR 1 lakh crores of
assets under management. The fund house enhanced its national presence by
adding 20 new branches over the last two years bringing its network presence to
115 locations. Birla Sun Life Mutual Fund continues to deliver superior
performance in both the asset classes viz. debt and equity. With over 7% of AUM
coming from B15 markets, Birla Sun Life Mutual Fund added over 1.12 lakh new
PAN numbers in FY2014. BSLAMC also has a successful history of acquiring
schemes of Alliance Mutual Fund and Apple Mutual Fund and growing them into
high performance schemes in terms of returns and size.
About Birla Sun Life
Asset Management Company Limited
Established in 1994,
Birla Sun Life Asset Management Company Limited (BSLAMC), investment manager
for Birla Sun Life Mutual Fund, is a joint venture between the Aditya Birla
Group and Sun Life Financial Inc, a leading international financial services
organisation from Canada. Birla Sun Life Mutual Fund is the fourth largest Fund
house in India based on domestic average assets under management as published
by AMFI for the quarter ended March 31, 2014. An impressive mix of reach, a
wide range of product offerings across equity, debt, balanced as well as
structured asset classes and strong investment performance has helped the
company garner close to 2 million investor scheme accounts (as of March 31,
2014). BSLAMC offers investors a range of comprehensive investment options,
which includes diversified and sector specific equity schemes, hybrid funds and
a wide range of debt and treasury products. Its offerings also include
Portfolio Advisory Services for High Net worth Individuals as well as offshore
funds for Non-Resident Indians. Company Information: Birla Sun Life Asset
Management Company Limited (Investment Manager for Birla Sun Life Mutual
Fund)One India Bulls Centre, Tower 1, 17th Floor, Jupiter Mill Compound, 841,
S.B. Marg, Elphinstone Road, Mumbai - 400 013. Tel.: 4356 8000. Website:
www.birlasunlife.com CIN: U65991MH1994PLC080811
About Aditya Birla
Financial Services Group
Aditya Birla
Financial Services Group (ABFSG) ranks among the top 5 fund managers in India
(excluding LIC) with an AUM of ~USD 20 billion. Having a strong presence across
the life insurance, asset management, NBFC, private equity, retail broking,
distribution & wealth management, and general insurance broking businesses,
ABFSG is committed to serve the end-to-end financial services needs of its
retail and corporate customers.
The seven companies
representing ABFSG are: Birla Sun Life Insurance Company Ltd., Birla Sun Life
Asset Management Company Ltd., Aditya Birla Finance Ltd., Aditya Birla Capital
Advisors Pvt. Ltd., Aditya Birla Money Ltd., Aditya Birla Money Mart Ltd. and
Aditya Birla Insurance Brokers Ltd. In FY 2012-13, ABFSG reported consolidated
revenue from these businesses at Rs. 6,390 Crore (USD 1.17 billion) and
earnings before tax at Rs. 761 Crore. Anchored by about 13,000 employees and
trusted by over 5 million customers, ABFSG has a nationwide reach through about
1,500 points of presence and about 130,000 agents / channel partners.
About Aditya Birla Nuvo
Limited..
Aditya Birla Nuvo is
a ~USD 4 billion conglomerate operating in the services and the manufacturing
sectors, where it commands a leadership position. Its service sector businesses
include Financial Services (Life Insurance, Asset Management, NBFC, Private
Equity, Broking, Wealth Management and general insurance advisory), Fashion and
Lifestyle (Branded apparels and Textiles) and Telecom. Its manufacturing
businesses comprise of the Agri, Rayon and Insulators businesses. Aditya Birla
Nuvo is part of the Aditya Birla Group, a USD 40 billion Indian multinational
operating in 36 countries across the globe.
About Sun Life Financial..
Sun Life Financial is
a leading international financial services organization providing a diverse
range of protection and wealth products and services to individuals and
corporate customers. Sun Life Financial and its partners have operations in key
markets worldwide, including Canada, the United States, the United Kingdom,
Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia,
Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2014, the Sun Life
Financial group of companies had total assets under management of $671 billion.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and
Philippine (PSE) stock exchanges under the ticker symbol SLF.
Media Contact
Ms. Snigdha Nandan,
Chief Manager - PR & Corporate Communications,
| Birla Sun Life
Asset Management Company
One Indiabulls
Centre, Tower-1, 17th floor, Jupiter Mill Compound, 841, S.B. Marg,
Elphinstone Road,
Mumbai - 400 013
Tel: +91 22 4356 8155
snigdha.nandan@birlasunlife.com
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