Bandhan Mutual Fund: Difference between revisions
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| name = Bandhan Mutual Fund |
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Revision as of 12:28, 30 January 2024
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| This article, Bandhan Mutual Fund, has recently been created via the Articles for creation process. Please check to see if the reviewer has accidentally left this template after accepting the draft and take appropriate action as necessary.
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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]
History
In 2000, the company was established as ANZ Grindlays Mutual Fund.[1]
In 2008, the company (Standard Chartered India Mutual Fund) had an assets under management (AUM) of ₹14,141 crore.[2]
In 2017, the company (IDFC Mutual Fund) has launched the IDFC Neo Equity Portfolio, a Portfolio Management System (PMS) powered by AI (Artificial Intelligence) and Big Data analysis which will analyse data from multiple traditional and non-traditional sources available in the public domain to identify stock opportunities.[3]
In 2022, the company has launched Unified Payments Interface (UPI) enabled AutoPay for their existing customers who have opt for systematic investment plans (SIPs).[4] At the end of FY2022, the mutual fund has crossed assets under management (AUM) over ₹1,15,000 crore.[5] According to data from Association of Mutual Funds in India (AMFI), they are the 9th largest fund house in the India.[6]
In 2023, the company (Bandhan Mutual Fund) has launched Bandhan Retirement Fund (BRF) that will follow a dynamic asset allocation (DAA) / balanced advantage fund (BAF) strategy. It will adjust the allocation between equity and debt, based on market valuations and economic conditions. The scheme was opened on 28 September 2023 and closed on 12 October 2023.[7] Later, they have launched Bandhan Nifty Alpha 50 Index Fund which is an open-ended index scheme tracking Nifty Alpha 50 Index. It provides investors with an opportunity to invest in a well-diversified portfolio of stocks that generated high alpha (relatively higher returns than the market) over the last one year. The scheme was opened on 25 October 2023 and closed on 6 November 2023.[8]
Acquisitions and mergers
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.[9]
In 2001, Standard Chartered Bank merged with ANZ Grindlays and rebranded it as Standard Chartered India Mutual Fund.[1][10]
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.[11][12][13]
In Dec 2022, a consortium of Bandhan Financial Holdings Limited (BFHL), GIC, and ChrysCapital acquired IDFC Mutual fund granted by Securities and Exchange Board of India (Sebi) for ₹4,500 crore.[14][15]
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.[16]
Advertising and campaigns
In 2020, the fund has started with a campaign called "SIP in Fixed Income" or SIFI to make investors more aware about the benefits of investing in fixed income products via Systematic Investment Plans.[17]
In 2021, the fund (IDFC Mutual Fund) has launched a digital campaign on their YouTube channel with the titled as "DateyRaho" to salutes all the Indian investors who were resilient and disciplined in their wealth creation process despite the turmoil in FY21 (COVID-19) to reap rewards with the positive returns.[18][19]
See also
- Mutual funds in India
- Bandhan Bank
- Infrastructure Development Finance Company
- Standard Chartered Bank
- ANZ (bank)
References
- ^ 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.
- ^ "IDFC acquires StanChart's MF arm". The Times of India. 2008-03-08. ISSN 0971-8257. Retrieved 2023-12-04.
- ^ "IDFC AMC introduces Artificial Intelligence powered PMS". The Economic Times. 2017-10-05. ISSN 0013-0389. Retrieved 2023-12-04.
- ^ Livemint (2022-04-02). "IDFC Mutual Fund launches UPI AutoPay for SIP investments". mint. 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.
- ^ Kriplani, Jash (2023-03-20). "Shifting gears: Bandhan MF plans to unlock its growth potential". mint. Retrieved 2023-12-04.
- ^ Kaul, Abhinav (2023-10-02). "Bandhan Mutual Fund launches retirement scheme; should you invest?". Moneycontrol.com. Retrieved 2023-12-04.
- ^ Livemint (2023-10-23). "Bandhan Mutual Fund Launches Bandhan Nifty Alpha 50 Index Fund". mint. Retrieved 2023-12-04.
- ^ 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.
- ^ "IDFC Mutual Fund salutes investors who stayed the course despite a tough year | The Work". Campaign India. Retrieved 2023-12-04.
- ^ "IDFC Mutual Fund salutes the resilience of investors in latest ad - ET BrandEquity". ETBrandEquity.com. Retrieved 2023-12-04.