IDFC Mutual Fund will be rebranded as Bandhan Mutual Fund on March 13. The names of the schemes as well as the logo will reflect the new brand identity. The Fund house has Rs 1.18 lakh crore worth of assets under management as of the December 2022 quarter.
The IDFC Mutual Fund, previously owned by the IDFC Group was acquired by the Bandhan Financial-led consortium in April last year and received the approval of capital market regulator SEBI in November last year. Bandhan Financial Holding-led consortium acquired IDFC Asset Management Company and IDFC AMC Trustee Company for Rs 4,500. Bandhan Financial Holdings holds 60% of the consortium while Singapore’s sovereign fund GIC and private equity firm ChrysCapital own 20% each in the consortium as reported by the Business Line.
"Our new name reflects our new sponsorship, and we are proud to now be a part of the Bandhan Group”, said Vishal Kapoor, CEO of the AMC. While there is a change in ownership, the investment strategies, processes, and teams will remain the same as per reports.
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