New York-based Invesco has increased its shareholding in its Indian asset management joint venture (JV) with Religare Enterprises to 100%.
The joint venture dubbed Religare Invesco Asset Management Company, will now be rebranded as Invesco Asset Management (India).
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As part of the deal, the JV’s mutual fund schemes will also undergo a rebranding, while the trustee company of the schemes will be renamed as Invesco Trustee.
The company’s management team will be retained following the takeover. Saurabh Nanavati will continue to hold the role of CEO, reporting to Invesco Asia-Pacific senior managing director and CEO Andrew Lo.
The deal, announced in November 2015, has secured the nod from SEBI and other regulatory entities.
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