US based investment manager Invesco to buy out the remaining 51% stake from Religare AMC, said industry sources.
In 2012, Invesco had bought 49% stake in Religare AMC for about Rs. 460 crore, according to some media reports. Religare Securities, a subsidiary of Religare Enterprises, holds 51% stake in the AMC.
Sources said that the fund house is likely to make an official announcement very soon. Invesco is likely to retain the current team, said sources.
Religare Invesco manages AUM of Rs. 21,594 crore as on September 2015. The fund house reported a net profit of Rs. 1 crore in FY14-15.
Invesco manages AUM of $755.8 billion worldwide.
