IDFC to sell 25% in MF arm to US asset manager

IDFC Ltd has agreed to sell a 25% stake in IDFC Asset Management Co Ltd to US based Natixis Global Asset Management, LP or NGAM, a US based privately owned investment manager.

IDFC Asset management is the 10th largest asset manager in India managing over Rs18,300 crore. IDFC Asset Management wants a foreign partner that will help it tap a share of the capital that flows into the Indian market, boosting its fee income and improving its margins.