BSLAMCBirla Sun Life Asset Management Company
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The company stated that now, BSLAMC has purchased the rights to manage the schemes and investor accounts from IIMIPL as investment manager.
As per the acquisition, BSLAMC has incorporated IIMIPL s 6 equity and 6 debt schemes with existing schemes as per no-objection received from SEBI.
The acquisition has also added 3 new products to BSLAMC's suite of Portfolio Management Service (PMS) offerings.
We are pleased to complete this acquisition and welcome the investors and distribution partners of IIMIPL to BSLAMC, said BSLAMC's CEO A.
BSLAMC is the 5th largest asset management company in India with average assets under management of Rs 63,696 crores for the quarter, January - March 2011.
BSLAMC was also awarded the Best "Mixed Asset Group" at the ET Now Lipper Fund Awards 2010.
The award acknowledges BSLAMC's comprehensive and innovative offering, its significant efforts to reach new investors and above-benchmark performance for the year ended June 30, 2010.
Our innovative approach to products, processes and cost reduction, in a highly challenging economic environment, enabled us to stay ahead of the curve and deliver consistent returns to investors," said Mr A Balasubramanian, CEO, BSLAMC.
During the period under review, the market share of BSLAMC grew by 11%, with AUM touching an all time high.