The most recent exit was of Deutsche MF which sold its schemes to Pramerica.ĭistributors say that Union KBC can sail smoothly after the exit of KBC as it can bank on its sponsor’s wide branch network to grow its assets. There have been a spate of exits by foreign fund houses, with three foreign AMCs – Morgan Stanley, ING, PineBridge exiting India in 2014. Meanwhile, the management and staff of the joint venture will continue to actively perform their functions and develop their business under the ownership of Union Bank of India, stated the release. KBC, together with Union Bank of India and in close collaboration with the joint venture’s management, has discussed all possible options with a view to finding a solution which addresses the concerns of all stakeholders,” states the release. Nevertheless, market developments in India have altered the financial landscape in which the joint venture was established. 156 IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF SOUTH CAROLINA ROCK HILL DIVISION KBC ASSET MANAGEMENT NV, Individually and on Behalf of All Others Similarly Situated, Plaintiff, § § § § § vs. “KBC and Union Bank of India have always stated their firm belief in the potential of the Indian market for investment funds. 2,672 crore as on September 2015.Ī release put out jointly by KBC and Union Bank of India hints at the ‘altered market developments’ in India for KBC’s exit. Union KBC started operations in 2011 and has built an AUM of Rs. The transaction is subject to regulatory approval in India. KBC Asset Management Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times.
State run Union Bank, which holds the majority 51% stake in the fund house, announced that it will buy out 49% stake from KBC. We’ve established ourselves as a strong local player, offering a full range of high-quality banking, insurance, asset management and leasing services, said Johan Thijs, KBC Group chief. KBC holds 49% stake in the Union KBC MF joint venture. Bhumi Pednekar and Mouni Roy also showered love on the post.Belgium based KBC Asset Management, the foreign partner of Union KBC MF is the latest foreign fund house to exit the Indian MF industry.
In Ireland, the team provides professional support for investment fund sales and investment advisory services through the different sales. Unka hi jahaan hai." The actor shared the same photo on his Instagram handle with the caption, "Daughters be the best." Both Shweta and Navya reacted to the photo and wrote, "Love you." The trio's picture caught the attention of Bollywood star Ranveer Singh as he wrote, "Oh wow !!!!!!!!!" in the comment section. KBC Asset Management is KBC Group’s product factory for investments that serves retail clients through intra-group distributors, as well as larger private and institutional customers. Sharing the adorable photo, Amitabh Bachchan wrote, "Betiyaan sab se pyaari. Amitabh Bachchan looked dapper in his three-piece suit and a bowtie. Taking to his Twitter handle, the actor shared a photo of him with Shweta Bachchan and Navya Naveli from the sets of KBC 13. Shweta Bachchan donned a monochrome blue coloured kurta and pyjama while Navya Naveli wore a blue dress with a long coat. He often writes about daughters and how much he loves them. The actor is an active user of Twitter and Instagram and keeps his fans entertained with his daily thoughts. The mother-daughter duo is touted to be the next celebrity guest on the reality game show. While the episode is yet to go on air, Amitabh Bachchan shared a still from the show and penned a heartfelt caption for it.īig B often writes his heart out via social media. The legendary star, who is currently serving as the host of KBC 13, recently invited his daughter Shweta Bachchan and granddaughter Navya Naveli Nanda on the sets of the show. Amitabh Bachchan often calls himself a proud father and grandfather.