Housing Development Finance Corporation (HDFC), the country’s premier housing finance entity has signed a definitive agreement for its asset management arm - HDFC Mutual Fund to acquire all the eight schemes of Morgan Stanley Mutual Fund in India. The agreement is subject to regulatory approvals as required. The average combined assets under management of the eight schemes for quarter ended September 30, 2013 was Rs 3,290 crore.
HDFC is India’s premier housing finance entity in existence for over 35 years. With a presence in banking, insurance and asset management, the HDFC group is an important part of the Indian financial services.
