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
Over 90 held for planning to protest near Visakhapatnam's LG Polymers plant
Posted on 6th June 2020
Visakhapatnam police on Friday arrested over 90 people, including leaders and workers of Left parties who were going to protest at LG Polymers plant, the site of the gas leak incident on May 7 that killed 12 people.

We arrested them as they hadn't taken permission for the protest. A FIR filed against 96 people of Left parties, South ACP Swaroopa Rani said.

Gold price today falls to Rs 46,696 per 10 gm; silver at Rs 47,800 per kg
Posted on 6th June 2020
Gold price today fell from Rs 46,767 to Rs 46,696 per 10 gram, while silver slipped from Rs 47,930 to Rs 47,800 per kilogram, according to India Bullion and Jewellers Association (IBJA).

The gold jewellery prices vary across India — the second-largest consumer of the metal — due to excise duty, state taxes and making charges.

57 Buffalo police officers quit tactical unit to protest suspension of two colleagues who pushed 75-year-old protester
Posted on 6th June 2020
Atleast 57 members of the police tactical unit in Buffalo, New York resigned from the team on Friday to protest the suspension of two colleagues for pushing a 70-year-old man to the ground outside the City Hall on Thursday during the ongoing protests, the local media reported.

Two members of the Buffalo Police Department`s Emergency Response Team were suspended after the incident which was filmed on camera was released by a local radio station.

Coronavirus Outbreak: With nearly 10,000 cases in a day, India crosses Italy as 6th worst-hit nation; tallest spike yet
Posted on 6th June 2020
The coronavirus cases in India continue to spread rapidly as the country has marked significant and consecutive highest jumps in the COVID-19 tally over a major part of the last two weeks. With nearly 10,000 new cases reported in the last 24 hours, India's COVID-19 count on Saturday hit a new high - 2,36,657, overtaking Italy to take the sixth spot among countries with the highesr caseload of the virus.

At 9:30 AM on this day, the COVID-19 tally in the country has reached 2,36,657 cases, which includes 1,15,942 active cases; 1,14,073 cured, discharged, or migrated patients, and 6,642 deaths.

Toyota to hike price of Camry Hybrid & Vellfire models from next month
Posted on 6th June 2020
Toyota Kirloskar Motor (TKM) on Friday announced it would increase the price of Camry Hybrid Electric Vehicle and The Vellfire with effect from next month.

It has been necessitated due to the substantial rise in exchange rate, the company said in a statement.

» 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

Coronavirus Outbreak: In highest spike yet, India's COVID-19 tally crosses 1.90 lakh cases; 5,394 deaths

Power bill over Rs 100,000? Now it's must to file income-tax return

Online classes 'First Bell' for Kerala school students begins today

Delhi borders sealed for a week, only essential services allowed: Chief Minister Arvind Kejriwal

Wajid Khan, of music composer duo Sajid-Wajid dies at 42

More India News

  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 - 2020 IndiaCatalog.com
    All Rights Reserved
Privacy Statement