Mumbai: IDFC Mutual Fund announced that French firm Natixis Global Asset Management Asia has acquired 25% stake in IDFC AMC and IDFC AMC Trustee Company.
Accordingly 25% of the total issued and paid-up equity share capital of each of IDFC Asset Management Company Limited and of IDFC AMC Trustee Company Limited, plus one equity share of each of these companies have been transferred to Natixis Global Asset Management Asia Pte Ltd.
Rajiv Lall, MD & CEO of IDFC said “Joining forces with Natixis Global Asset Management is a win-win for both companies as we seek to best navigate today’s highly complex market place. NGAM has an established asset management business with expansive distribution capabilities around the world and through our new partnership, IDFC AMC now has the ability to offer domestic investors access to international investment opportunities through NGAM investment products.”
IDFC AMC managed Rs. 28,908 crore as on September 2011. NGAM manages $705 billion as on September 30 2011. In Asia, NGAM has a presence in Japan, Taiwan, Singapore and China.
