AIG Mutual Fund has entered into an agreement to sell off its asset management business to PineBridge.
Mumbai: Existing sponsor of the AIG Mutual Fund, AIG Capital Corporation (AIGCC) has entered into an agreement with PineBridge for sale of its asset management business.
Accordingly, AIG Global Investment Group Mutual Fund will be renamed as PineBridge Mutual Fund, AIG Global Asset Management Limited shall be renamed as PineBridge Investment Asset Management Limited and AIG Trustees Limited Private Limited shall be renamed as PineBridge Investment Trustee Limited.
PineBridge is regulated by the Financial Services Agency of Japan as Financial Instruments Business Operator and has been operating as non-discretionary investment advisor and as a discretionary investment manager in Japan since 1987. The core business of PineBridge includes the undertaking of the investment management business and August 31, 2011, PineBridge has approximately 46, 906 crores of assets under management.
The names of the schemes proposed to be changed as follows:
|
Old Scheme Name |
New Scheme Name |
|
AIG India Equity Fund |
PineBridge India Equity Fund |
|
AIG India Liquid Fund |
PineBridge India Liquid Fund |
|
AIG India Treasury Fund |
PineBridge India Treasury Fund |
|
AIG Infrastructure & Economic Reform Fund |
PineBridge Infrastructure & Economic Reform Fund |
|
AIG Qtrly Interval -II Fund |
PineBridge Qtrly Interval -II Fund |
|
AIG Qtrly Interval-I Fund |
PineBridge Qtrly Interval-I Fund |
|
AIG Short Term Fund |
PineBridge Short Term Fund |
|
AIG World Gold |
PineBridge World Gold |
