IndiaCatalog.com
India News
Search Web Directory
News Home
Bank of Baroda MF arm to merge with BNP Paribas AMC
Posted on 12th October 2019
Baroda Asset Management India, a wholly-owned subsidiary of Bank of Baroda, on Friday announced its merger with BNP Paribas Asset Management India. Bank of Baroda and BNP Paribas Asset Management Asia have entered into binding agreements for the merger.

The transaction also includes merger of BNP Paribas Trustee India with Baroda Trustee India.

The joint statement said the strategic alliance allows both the companies to leverage each other’s strengths to offer products specially designed for retail and institutional clients in India. This demonstrates their ongoing commitment to introducing new products to cater to the increasing investment appetite of investors.

“We are pleased to partner with a global organisation such as BNP Paribas Asset Management. We value their expertise and the robust investment and risk management processes they have to offer. This joint venture will allow us to create a stronger, more competitive asset management company in the Indian mutual fund industry with the large distribution network of Bank of Baroda and the expertise of BNP Paribas, coupled with the benefit of the firm’s ability to source offshore funds,” said PS Jayakumar, managing director and CEO, Bank of Baroda.

BoB also said there is no cash consideration in the proposed transaction and Bank of Baroda and BNP Paribas Asset Management Asia will hold 50.1% and 49.9%, respectively, of the paid-up share capital of the merged AMC.

Bank of Baroda in the exchange filing said the average asset under management (AAUM) of Baroda Asset Management India was Rs 11,319.69 crore and for BNP Paribas Asset Management India, it was Rs 10,072.60 crore (including PMS/advisory) for quarter ended March 31, 2019.

Stock of Bank of Baroda on Friday ended at Rs 90.80 up 3.42%, on the BSE.

In last September, Bank of Baroda had completed acquisition of 51% equity stake in both Baroda Pioneer Asset Management Company and Baroda Pioneer Trustee Company from UniCredit SpA. During FY2018-19, the total income of Baroda AMC was Rs 50.19 crore, while for BNPP AMC, it was Rs 96.12 crore.

“India is a key market in the region for BNP Paribas Asset Management. This strategic partnership reinforces both our local footprint and global outreach in the Asia Pacific. By leveraging Bank of Baroda’s large number of branches for distribution and our global experience of managing assets across more than 30 markets, this partnership will enable us to offer products and services to a much larger investor base in India,” said Ligia Torres, chief executive officer Asia Pacific, BNP Paribas Asset Management.

Related Companies: Bank Of Baroda   

Other Latest News
Govt gives sugar mills time till Dec 31 to export last year's balance quota
Posted on 11th November 2019
The government on Monday gave sugar mills three months more till December to export the last year's balance quota of the sweetener.

Mills were able to export about 3.8 million tonne of sugar during the 2018-19 marketing year (October-September) due to depressed market conditions, against the target of 5 million tonne under the Minimum Indicative Export Quota (MIEQ) scheme.


India smartphone shipments rise 9.3% in Q3; Xiaomi leads the list
Posted on 11th November 2019

Multiple online sales festivals, new launches and price corrections on a few key models by brands helped smartphone shipments in India grow 9.3 per cent in the July-September quarter to touch record 46.6 million units, research firm IDC said on Monday.

Sequentially, Smartphone shipments were higher by 26.5 per cent in the third quarter ended September 2019 compared to the previous quarter. IDC expects the smartphone market to see only mid-to-high single-digit year-on-year growth in 2019.


Ayodhya verdict is cue for PM Modi to focus on fixing India's economy
Posted on 11th November 2019
Over the weekend, India’s Supreme Court pronounced on a title dispute in Ayodhya, a small town in India’s northern state of Uttar Pradesh. Like many other property cases in India, this one had been working its way through the judicial system for decades. But it may be the most consequential such dispute in Indian history.

Millions of Hindus believe Ayodhya was the capital of Ram, an avatar of Vishnu and hero of the epic Ramayana, and the dispute was over rights to the site where Hindus say a 16th century mosque was built over Ram’s birthplace.


Auto slowdown: Car sales continue to slide; decline by 6.34% in October
Posted on 11th November 2019
Domestic passenger vehicle sales witnessed a marginal increase of 0.28 per cent to 2,85,027 units in October from 2,84,223 units in the year-ago period.

Domestic car sales were down 6.34 per cent to 1,73,649 units as against 1,85,400 units in October 2018, according to data released by the Society of Indian Automobile Manufacturers (Siam).


Shiv Sena MP Arvind Sawant resigns from Union Minister post
Posted on 11th November 2019
Union Minister of Heavy Industries and Public Enterprises and Shiv Sena MP Arvind Sawant today resigned from his ministerial post, amid the political developments in Maharashtra. Sawant was sworn in after the 2019 Lok Sabha elections, the lone Union Minister from Shiv Sena.

At 8:00 AM, news agency ANI posted an update, quoting Sawant, who said, I am resigning from my ministerial post, thereby confirming the earlier reports of him possibly resigning and the Sena quitting ties with the NDA alliance at the centre.


» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Bank of Baroda MF arm to merge with BNP Paribas AMC
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Name*
Comments*
Security Code*
 

Be the first person to write a business review for Bank of Baroda MF arm to merge with BNP Paribas AMC

Most Read News

Ayodhya verdict shouldn't be seen as victory for any side: Left parties

Aurobindo Pharma trades near 52-wk low as Hyd units come under US FDA lens

Maruti Suzuki, Toyota to set up vehicle dismantling, recycling unit

Microsoft, Nokia collaborate once again after failed $7bn smartphone deal

Reliance Industries puts off gas bid for the second time to November 15

More India News

Photo Gallery

Captain 2523 T(10 Images) Captain 2523 T
Kriti Sanon(11 Images)Kriti Sanon
Keshava(10 Images) Keshava
  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2019 IndiaCatalog.com
    All Rights Reserved
Privacy Statement