Mumbai: IndusInd International Holdings Limited (IIHL) and Invesco have finalized the formation of their asset management joint venture after receiving all necessary regulatory approvals.Â
As part of the agreement, IIHL acquired a 60% stake in Invesco Asset Management Company.
Strategic Move to Expand IIHL’s Financial Portfolio
IIHL stated that the partnership with Invesco is a step toward expanding its para-banking portfolio by adding asset management to its financial services offerings. The company aims to strengthen its position in the global banking, financial services, and insurance (BFSI) sector by 2030.
Operations to Continue Under Existing Management
According to the release, the joint venture will continue operating under the existing management of Invesco Asset Management, led by Chief Executive Officer Saurabh Nanavati. The focus on investment strategy and client service will remain unchanged.
Combining Global Expertise with Local Reach
Invesco will contribute its global investment expertise and product range, while IIHL will leverage its extensive distribution network of over 11,000 touchpoints serving 45 million customers. The company also plans to tap into the customer base of its associate entities, potentially expanding its reach by another 50 million.
Strong Presence and Growth Potential
Invesco Asset Management is currently India’s 16th largest domestic asset manager, with combined onshore and offshore average assets under management of Rs 1.48 lakh crore for the quarter ending September. The firm has a presence in 40 cities across India.
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