Capital Group Boosts Stake in 360 One WAM to 12.11%; Subsidiary Faces Penalty
Capital Group, through New World Fund Inc., has increased its stake in 360 One WAM Ltd. to 12.11% with a 0.52% acquisition worth Rs 245.00 crore. Separately, a subsidiary of 360 One WAM has been fined Rs 25.00 lakh by MCXCCL for alleged false reporting of excess collateral.

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360 One WAM Ltd. , a prominent player in the wealth and asset management sector, has seen significant developments in its ownership structure and regulatory compliance.
Capital Group Increases Stake
Capital Group, through its affiliate New World Fund Inc., has made a substantial investment in 360 One WAM Ltd. The global investment management firm acquired a 0.52% stake in the company for approximately Rs 245.00 crore. This recent acquisition has bolstered Capital Group's total holding in 360 One WAM to 12.11%, signifying a strong vote of confidence in the company's prospects and management.
Regulatory Challenge for Subsidiary
In a separate development, a subsidiary of 360 One WAM Ltd. has encountered regulatory issues. The Multi Commodity Exchange Clearing Corporation Limited (MCXCCL) has imposed a penalty of Rs 25.00 lakh on the subsidiary. The penalty stems from allegations of false reporting of excess collateral, raising concerns about the subsidiary's compliance practices.
Implications and Outlook
The increased stake by Capital Group could be seen as a positive signal for 360 One WAM Ltd., potentially indicating the global investment firm's long-term commitment to the company. However, the regulatory penalty faced by its subsidiary underscores the importance of maintaining strict compliance standards in the financial services sector.
As 360 One WAM Ltd. navigates these developments, stakeholders will likely be watching closely to see how the company addresses the compliance issues while capitalizing on the increased investment from Capital Group.
Historical Stock Returns for 360 One WAM
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
---|---|---|---|---|---|
-0.03% | -4.13% | +9.83% | +8.35% | +23.26% | +404.27% |