“The new name reflects our new sponsorship, now proud to be part of the Bandhan Group. Our new brand identity is a testament to the universality of the company’s commitment and strength. It’s determination to help every servant become an investor,” said Vishal Kapoor, CEO, AMC. The IDFC asset management company was acquired by a consortium comprising Bandhan Financial Holdings Ltd, GIC and ChrisCapital.
Bandhan will hold 60 per cent of the acquired firm, with control of operations. The other two AMCs will hold 20 percent each. The sponsor of the mutual fund will be BFHL. The basic investment strategy, process and team will remain the same. Investors can therefore benefit from the same high-quality investment approach that the fund house is known for, the statement added.
The new brand identity is expected to help the company strengthen its market position and increase investor confidence in its offerings. The company will continue to focus on providing innovative and customer-centric solutions to meet the evolving needs of customers.
Established in 2000, IDFC Mutual Fund is one of the largest mutual fund houses in the domestic market. In terms of assets under AUM, IDFC is among the top 5 fund houses in the region. Despite being a relative newcomer, IDFC Mutual Fund has managed to shake up the domestic financial system. The Mutual Fund House has received numerous awards and accolades from statutory bodies, industry leaders in media and management.
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Bandhan Bank was launched on August 23, 2015 with a range of products for all segments of customers. Before that the organization was an NGO. Bandhan Bank’s main objective was to shift from financial inclusion to inclusive banking.
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