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Sundaram Mutual Fund acquires Principal AMC in India for ₹338.5 cr

January 28, 2021
Principal Global Services, technical support and services arm, to continue
Sundaram Asset Management Company, a wholly owned subsidiary of Sundaram Finance, has acquired Principal Asset Management business in India for ₹338.53 crore. Principal Asset Management has assets under management of ₹7,447 crore as of December-end with about 90 per cent of this in equity-oriented schemes.
As part of the deal, Sundaram AMC will buy out the entire share capital of Principal Asset Management, Principal Trustee Company and Principal Retirement Advisors.
The transaction is subject to the receipt of necessary regulatory approvals and SEBI prescribed processes.
Sunil Subramaniam, Managing Director, Sundaram Asset Management Company, said the transaction will strengthen Sundaram MF presence in the market place with the addition of a range of schemes with a good long term performance track record across the large and mid-cap segments. ....

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Sundaram Asset Management announces Purchase of Principal® AMC in India

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. ....

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