Six equity and debt schemes
of ING have been merged with BSLAMC’s existing schemes.
Birla Sun Life Mutual Fund has completed the acquisition of ING Mutual Fund’s schemes, said a press release issued by the fund house.
Following the no-objection received from SEBI, six equity and debt schemes of ING MF have been merged with BSLAMC’s existing schemes. Three new products have also been added to BSLAMC’s Portfolio Management Service (PMS) offerings. However, few schemes including the multi-manager funds have been retained and aligned as per BSLAMC’s strategy to serve more investors, stated the release.
Speaking on the service readiness of BSLAMC, A Balasubramanian, CEO, Birla Sun Life Mutual Fund said, “Our approach is to provide best in class experience to our investors. All our customer touch points both physical and digital are ready to welcome them on onboard. Apart from the expertise of our fund management team, we offer a wide array of service platforms both on digital and mobile. We believe that this will provide a lot of convenience for our investors.”
Birla Sun Life has an AUM of Rs.1.02 lakh
crore as on 30 September 2014 while ING Mutual Fund’s AUM stood at Rs. 535 crore
as on September 2014.
Ajay Srinivasan, Chief Executive – Financial Services, Aditya Birla Group said that this acquisition adds Rs. 1,100 crores to BSL AMC's kitty.
