Commenting on the acquisition, Mr Sunil Subramaniam, Managing Director, Sundaram Asset Management Company said, “This transaction will strengthen our presence in the marketplace with the addition of a range of schemes with a good long term performance track record across the large and mid-cap segments. This will complement our business which has traditionally been weighted towards the mid-and small-cap segment.”
Mr Pedro Borda, Chief Operating Officer, Principal International said, “As part of a systematic review of the company’s portfolio of businesses and global market dynamics, we’ve made the decision to exit the asset management business in India. As we transition the business, customers and distributors will remain our top priority. We believe that they will benefit from Sundaram Asset Management’s larger mutual fund platform in this market.”
Sundaram Asset Management announces Purchase of Principal® AMC in India
Posted On: 2021-01-28 10:22:53 (Time Zone: Arizona, USA)
Sundaram Asset Management Company Limited. ( Sundaram ), a 100% subsidiary of Sundaram Finance Ltd., has announced the purchase of the asset management businesses of Principal Asset Management Pvt. Ltd ( Principal ). Sundaram will acquire the schemes managed by Principal Asset Management Pvt. Ltd and acquire 100% of the share capital of Principal Asset Management Pvt. Ltd., Principal Trustee Company Pvt. Limited, and Principal Retirement Advisors Pvt. Ltd. The transaction is subject to the receipt of necessary regulatory approvals and SEBI prescribed processes, and Principal® will continue to operate the businesses until the deal is closed.
Midcap going to be the most exciting space: Sundaram AMC’s Sunil Subramaniam
SECTIONS
Share
He believes that India is delicious poised supported by low-interest rates and low inflation.
ETMGS 2021 Day 3: India is in a delicious position , supported by low interest rates and low inflation, says Sunil Subramaniam
MUMBAI: India is in the middle of a new virtuous economic cycle, feels Sunil Subramaniam, managing director of Sundaram Asset Management Company, which bodes well for midcap and smallcap stocks in the market.
Subramaniam, who was speaking at the virtually-held fourth edition of ETMarkets Global Summit, believes that India is in a delicious position , supported by low interest rates and low inflation. “Government is probably in a position in this Budget to kickstart the investment cycle not only through themselves but through policy reforms,” he said.