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Mumbai, Oct. 8 HDFC has increased its shareholding in HDFC Asset Management Company by acquiring 9.90 per cent stake from Standard Life Investments Ltd (SLI) for Rs 181.81 crore

This acquisition will take the Corporation’s shareholding in HDFC AMC to 60 per cent while SLI will retain the balance 40 per cent, said a press release.

HDFC AMC is the investment manager to HDFC Mutual Fund with funds under management of Rs 41,333 crore as of September 30. It’s equity assets constitute approximately 44 per cent of the total funds under management.

The AMC also provides portfolio management and advisory services to domestic and offshore clients with funds under management of around Rs 11,434 crore as of September 30.

More Stories on : Housing Finance | Asset Management Companies | Mutual Funds | Housing Development Finance Corporation Ltd

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