Cathay SITE (Securities Investment Trust) the largest Asset Manager in Taiwan, today signed a Letter of Intent (LOI) for an exclusive strategic collaboration with Nippon Life India Asset Management (NAM India), a subsidiary of Nippon Life Insurance, one of the largest life insurance companies in Japan.
As a part of the LOI, both CATHAY SITE & NIMF will work exclusively with each other and use their expertise to explore areas for developing, managing, marketing and distributing each other s investment products in India and Taiwan.
Both companies will seek to develop and explore business opportunities in active and passive strategies, leveraging upon their specific investment and distribution reach, in India and Taiwan.
Aditya Birla Cap okays AMC listing plan
April 15, 2021
The Board of Directors of Aditya Birla Capital has approved the sale of 28,50,880 shares of its subsidiary Aditya Birla Sun Life AMC through an initial public offering.
Aditya Birla Sun Life AMC has a paid-up share capital of 28,80,00,000 equity shares of ₹5 face value. However, the Board has not decided the IPO date and the issue price. Aditya Birla Mutual Fund’s average assets under management stood at ₹2.69 lakh crore as of March-end.
Post the IPO, Birla Mutual Fund will become the fourth fund house to be listed on stock exchanges. Currently, HDFC Asset Management Company, Nippon Life India Asset Management, and UTI Asset Management Company are listed on the bourses.
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