IndusInd International Holdings Acquires Majority Stake in Invesco Asset Management India
IndusInd International Holdings (IIHL) has acquired a 60% stake in Invesco Asset Management India (IAMI), forming a joint venture with Invesco Ltd. IIHL will contribute its extensive distribution network of over 11,000 touchpoints and access to 45 million customers. IAMI, the 16th largest asset manager in India with an average AUM of Rs 1.48 lakh crore, will continue to operate under the Invesco brand with Saurabh Nanavati as CEO. This strategic partnership aims to combine Invesco's global investment expertise with IIHL's local distribution capabilities to capitalize on India's growing mutual funds market.
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IndusInd International Holdings (IIHL) has completed a strategic move in the asset management sector by acquiring a 60% stake in Invesco Asset Management India (IAMI). This joint venture with Invesco Ltd marks a significant development in India's mutual fund industry.
Key Details of the Joint Venture
| Aspect | Details |
|---|---|
| IIHL Stake | 60% |
| Invesco Stake | 40% |
| Brand | Invesco |
| CEO | Saurabh Nanavati |
| IAMI Ranking | 16th largest asset manager in India |
| Average AUM | Rs 1.48 lakh crore |
| IAMI Presence | 40 Indian cities |
IIHL's Contribution to the Partnership
IIHL brings substantial distribution capabilities to the joint venture:
- Distribution network spanning over 11,000 touchpoints
- Access to over 45 million existing customers
- Plans to reach an additional 50 million potential investors through associate entities
Strategic Implications
This partnership combines Invesco's global investment expertise with IIHL's extensive local distribution network. The move is positioned to capitalize on India's growing mutual funds market, leveraging IIHL's wide reach and Invesco's established brand and management.
The joint venture will continue to operate under the Invesco brand, maintaining continuity in its operations. The existing management team, led by CEO Saurabh Nanavati, will remain at the helm, ensuring a smooth transition and consistent leadership.
This strategic alliance aims to enhance the reach and offerings of Invesco Asset Management India, potentially strengthening its position in the competitive Indian asset management landscape.
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