While 6 equity and 6 debt schemes acquired from IIMIPL have been merged with the current schemes of BSLAMC, a few others including multi manager funds were retained as they were as part of a growth strategy.
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| A. Balasubramanian, CEO, Birla Sun Life AMC |
In a press released filed with the stock exchanges today by Aditya Birla Nuvo Ltd, Mr. A. Balasubramanian, CEO, Birla Sun Life AMC, said that the fund’s physical & digital customer touch points were ready to welcome the new investors. Apart from the expertise of the fund managers, the fund provided a wide range of digital & mobile service platforms offering immense convenience to the investors.
The Birla Sun Life MF had an asset base exceeding Rs.1 lakh crore as at the end of September 2014 quarter. The acquisition would also bring in three new products to the Birla Sun Life MF’s suite of Portfolio Management Service (PMS) offerings.
The effective date of transfer of ING MF’s schemes to Birla Sun Life MF is October 11, 2014.
The ING MF during the July to September 2014 quarter had total assets under management of Rs. 711.78 crore. Of this, Rs. 534.57 crore was Assets Under Management (AUM) excluding Fund of Funds-domestic but including Funds of Funds (FoF) overseas. The FoF domestic was Rs. 177.21 crore, according to Association of Mutual Funds of India (AMFI) data.
* Assets Management Company
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