Baroda MF and BNP Paribas MF have entered into a strategic partnership to form ‘Baroda BNP Paribas MF’. The fund house will leverage the strengths that each partner has developed, to offer products specifically designed for retail and institutional clients in India.
Suresh Soni has been appointed the CEO of the merged entity, where Bank of Baroda and BNP Paribas Asset Management will hold a stake of 50.1% and 49.9% respectively.
As on Mar 14, 2022, the new entity has combined assets under management and advisory of INR 22,522 crore. It is expected to serve over 1 million investor folios and more than 10,000 distributors through its touchpoints across 90 towns and cities.
Baroda BNP Paribas MF will offer 28 schemes across equity, hybrid, debt and overseas fund of fund categories.
Commenting on the merger, Sanjiv Chadha, Managing Director & CEO, Bank of Baroda said, “This is the coming together of two financial powerhouses who complement each other with the strengths that they bring to the table, creating a more potent combined entity.”
David Vaillant who is the Global Head of Finance, Strategy & Participations at BNP Paribas Asset Management added, “The joint venture aims to build on the strengths of both partners to create greater synergies and operational efficiencies, as well as bringing a wider range of first-class investment solutions to Indian investors.”
Lastly, Suresh Soni, CEO, Baroda BNP Paribas MF said, “It gives us an opportunity to serve investors and partners in not just ‘India’, but ‘Bharat’ too. Our aim is to deliver strong performance, by offering diverse and innovative investment solutions, combined with impeccable service to our investors to help fulfil their financial goals.”
