BirlaSun Life Asset Management Company (BSLAMC), a part of Aditya Birla Financial Services Group, and investment manager for Birla Sun Life Mutual Fund (BSLMF) has completed acquisition of all Mutual Fund schemes and Portfolio Management accounts of ING Investment Management India (IIMIPL). BSLAMC has now taken over the rights to manage the schemes and investor accounts from IIMIPL as investment manager.
Following the acquisition, 6 equity and 6 debt schemes acquired from IIMIPL have been merged with existing schemes at BSLAMC as per no-objection received from SEBI. A few schemes including multi-manager funds have however been retained in line with BSLAMC's strategy to grow and serve even more investors. The acquisition has also added 3 new products to BSLAMC's suite of Portfolio Management Service (PMS) offerings.
Aditya Birla Nuvo is a $4.5 billion conglomerate by revenue size. The company, part of Aditya Birla Group, is present across financial Services, telecom, fashion & lifestyle, IT-ITeS and manufacturing businesses.
