The case relates to an inspection of mutual funds and portfolio management services (PMS) activities of Invesco Asset Management for the period between October and November 2021.
Invesco will retain a 40% stake in the fund house, while both IIHL and Invesco will have sponsor status. The size of the deal has not been disclosed. IIHL is the promoter entity of IndusInd Bank.
Sundaram MF-Principal MF, HSBC AMC-L&T MF and Bandhan-led consortium acquiring IDFC MF are some of the transactions in the sector over the past few years.