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Acquisition

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Schroders Acquires 25 Percent Stake in Axis Mutual Fund

Apr 28, 2012
 
Acquiree : Axis Mutual Fund
Acquirer : Schroders
Domain : Banking
Company's Region : South Asia
Merging Company's Region : Europe
Deal Notes :

U.K.’s Schroders has acquired a 25 percent stake in Axis Mutual Fund, Axis Bank’s mutual fund arm, for an undisclosed amount. As per the deal, Schroders will have a board member each on the Axis Mutual Fund trustee company and the Asset Management Company’s board. The deal will help Axis Mutual Fund to rebrand itself as an investment manager. It will also enable the Indian fund house to benefit from Schroders' global distribution network and advise overseas funds invested in Indian securities.

Rajiv Anand, Managing Director and Chief Executive Officer of Axis Mutual Fund, states that the deal  will assist them to promote their fund products globally through Schroders' distribution network. Moreover, Schroders will also bring their products toIndia. 

   
   

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