Bandhan Mutual Fund
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| Formerly | IDFC Mutual Fund |
|---|---|
| Company type | Private |
| BSE: 540154 NSE: IDFNIFTYET | |
| Industry | Mutual Fund |
| Founded | 2000 |
Area served | India |
Key people |
|
| Products |
|
| Website | bandhanmutual |
Bandhan Mutual Fund is an Indian asset management company that was established in 2000.[1]
According to the Association of Mutual Funds in India (AMFI), the company was 9th largest fund house in India in 2022.[2]
History[edit]
In 2000, the company was established as ANZ Grindlays Mutual Fund.[1]
In 2008, the company (Standard Chartered India Mutual Fund) had assets under management (AUM) of ₹14,141 crore.[3]
At the end of FY2022, the mutual fund has crossed assets under management (AUM) over ₹1,15,000 crore.[4]
In Dec 2023, the company had assets under management (AUM) of ₹1,27,000 crore.[5]
Acquisitions and mergers[edit]
In 2000, Standard Chartered acquired Grindlays Bank from ANZ Bank, increasing its presence in private banking and further expanding its operations in India and Pakistan. ANZ sold its Grindlays subsidiary to Standard Chartered for US$1.3 (A$2.2) billion in cash.[6]
In 2001, Standard Chartered Bank merged with ANZ Grindlays and rebranded it as Standard Chartered India Mutual Fund.[1][7]
In Mar 2008, Infrastructure Development Finance Company (IDFC) acquired the mutual fund section of Standard Chartered Bank by paying $205 million (₹ 830 crore) for the asset management business of Standard Chartered and Standard Chartered Trustee Company.[8][9][10]
In Dec 2022, a consortium of Bandhan Financial Holdings Limited (BFHL), GIC, and ChrysCapital acquired the IDFC Mutual fund granted by Securities and Exchange Board of India (Sebi) for ₹4,500 crore.[11][12]
In Mar 2023, IDFC Mutual Fund was rebranded to Bandhan Mutual Fund. In the consortium, Bandhan Financial Holdings has 60% share, private equity firm ChrysCapital has 20% share and Singapore’s sovereign fund GIC has 20% share.[13]
Advertising and campaigns[edit]
In 2020, the fund started with a campaign called "SIP in Fixed Income" or SIFI to make investors more aware of the benefits of investing in fixed income products via Systematic Investment Plans.[14]
See also[edit]
- Mutual funds in India
- Bandhan Bank
- Infrastructure Development Finance Company
- Standard Chartered Bank
- ANZ (bank)
References[edit]
- ^ a b c Walavalkar, Nikhil (2023-03-20). "Bandhan MF will be present in more locations after re-branding, says CEO Vishal Kapoor". Moneycontrol. Retrieved 2023-12-04.
- ^ Kriplani, Jash (2023-03-20). "Shifting gears: Bandhan MF plans to unlock its growth potential". mint. Retrieved 2023-12-04.
- ^ "IDFC acquires StanChart's MF arm". The Times of India. 2008-03-08. ISSN 0971-8257. Retrieved 2023-12-04.
- ^ Rai, Vinaykumar (2022-04-06). "Bandhan consortium to acquire IDFC AMC for Rs 4,500 crore". Business Today. Retrieved 2023-12-04.
- ^ "IPO rush isn't a bubble, but out of 10 issuances, we may pick 1 or 2: Bandhan AMC's Manish Gunwani". Moneycontrol. 2024-01-18. Retrieved 2024-04-15.
- ^ Wall Street Journal, Sara (2000-04-28). "Standard Chartered to Acquire Grindlays in $1.34 Billion Deal". Wall Street Journal. ISSN 0099-9660. Retrieved 2023-12-04.
- ^ "Stanchart to focus on Indian debt markets". The Times of India. 2001-12-03. ISSN 0971-8257. Retrieved 2023-12-04.
- ^ "IDFC buys StanChart AMC for $205 million". Bussiness-standard.com. 25 Feb 2013. Retrieved 4 Dec 2023.
- ^ Monga, Rachna (2008-03-08). "IDFC buys StanChart asset management biz". mint. Retrieved 2023-12-04.
- ^ "IDFC acquires StanChart Mutual". www.telegraphindia.com. Retrieved 2023-12-04.
- ^ Kishore, Kundal (1 Dec 2022). "IDFC Mutual Fund Will Now Be Bandhan Mutual Fund. How Will It Affect Your Investments?". Outlookindia.com. Retrieved 4 Dec 2023.
- ^ Singh, Rajiv Ranjan (2022-04-09). "Mutual Bandhan of IDFC points out Indian market's global appeal". www.fortuneindia.com. Retrieved 2023-12-04.
- ^ Bureau, Our (2023-03-11). "IDFC Mutual Fund to become Bandhan MF". BusinessLine. Retrieved 2023-12-04.
- ^ Bazaz, Shivani (2020-09-17). "IDFC Mutual Fund launches 'SIP in Fixed Income' campaign". The Economic Times. ISSN 0013-0389. Retrieved 2023-12-04.