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IDFC Mutual Fund will adopt a new brand identity as Bandhan Mutual Fund from Monday.
Last April, Bandhan Financial Holding-led consortium had acquired IDFC Asset Management Company and IDFC AMC Trustee Company for ₹4,500 crore. Bandhan Financial Holding is the holding company of Bandhan Bank.
While Bandhan Financial Holdings held 60 per cent in the consortium, private equity firm ChrysCapital and Singapore’s sovereign fund GIC owned 20 per cent each.
The fund house had an asset under management of ₹1.18-lakh crore as of December quarter.
Investors can benefit from the same investment approach that the fund house followed as the underlying investment strategy, processes and team will continue to remain the same, said the fund house in a statement on Saturday.
Vishal Kapoor, CEO of the AMC, said backed by the legacy, goodwill, and inclusiveness that the new sponsors represent, the fund house is confident that investors will continue to benefit from the same expertise and focus that they have experienced over the years.
“Our new brand identity is a testament to our commitment and the strength of our resolve to help every saver become an investor,” he said.
At the heart of this rebranding, which includes a change of the name and the logo, is the belief that financial security and prosperity are not just for the few, but for everyone. This rebranding to become Bandhan Mutual Fund marks a new chapter in the fund house’s journey and is expected to bring fresh energy to its business, it said.
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