Kotak Mahindra Asset Management Company has executed definitive agreement to acquire the domestic schemes of PineBridge Mutual Fund, subject to regulatory approvals.
PBI MF is managed by PineBridge Investments Asset Management Company (India) Private Limited.
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Mr. Gaurang Shah, President – Asset Management, Life Insurance and International Business, KMBL, said "We have agreed to acquire the schemes of PineBridge Mutual Fund. The assets included are equity oriented which provides a further enrichment to our equity base. We have an appetite for further acquisitions which can create value for us and we would be keen to consider such opportunities."
The fund houses share common investment philosophies of selecting robust companies with good management quality. This provides an optimal platform for smooth and efficient integration of the schemes.
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