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Sunil Subramaniam: Is India a tough game for foreign mutual fund players? Sunil Subramaniam explains

Is India a tough game for foreign mutual fund players? Sunil Subramaniam explains Synopsis Another international player is all set to pack their bags and leave the Indian mutual fund space as Sundaram Mutual has acquired the MF business of Principal AMC. Another international player is all set to pack their bags and leave the Indian mutual fund space as Sundaram Mutual has acquired the MF business of Principal AMC. Sundaram Asset Management Company Limited announced on Thursday that apart from the schemes managed by Principal Asset Management, it will also acquire 100% of the share capital of Principal AMC, Principal Trustee Company Pvt Limited and Principal Retirement Advisors Pvt Ltd.

Sundaram AMC to buy Principal s core businesses for undisclosed sum

Sundaram Asset Management Company (Sundaram), a 100 per cent subsidiary of Sundaram Finance Ltd, has announced the purchase of the core businesses of Principal Asset Management Pvt Ltd. Value of the transaction is around Rs 338.53 crore. Sundaram will acquire the schemes managed by Principal Asset Management Pvt Ltd and acquire 100 per cent of its share capital, along with that of 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. Sundaram is a leading player in the fund management space with a 25-year track record. It has over Rs 40,000 crore in assets under management, the majority of which are in equity-oriented schemes.

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