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Sundaram arm buys Principal - The Hindu


Sundaram arm buys Principal
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Sundaram Asset Management Co. Ltd. (SAMC), 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 and acquire 100% of the share capital of Principal along with Principal Trustee Co. Pvt. Ltd., and Principal Retirement Advisors Pvt. Ltd. Principal will continue to operate the businesses until the deal is closed, said Sundaram Finance in a regulatory filing.
As a significant player in the fund management space, Sundaram has over Rs. 40,000 crore in assets under management. As of December 2020, Principal has assets under management of Rs. 7,447 crore. ....

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