Morgan Stanley Sells Indian Mutual Fund Assets to HDFC

December 30, 2013

On December 23, 2013, Reuters reported that Morgan Stanley Investment Management will sell its Indian mutual fund assets to joint venture HDFC Asset Management Company, owned by India’s Housing Development Finance Corp and Britain’s Standard Life.

On December 23, 2013, Reuters reported that Morgan Stanley Investment Management will sell its eight Indian mutual funds to HDFC Asset Management Company Ltd.  HDFC Asset Management Company is a joint venture between India’s Housing Development Finance Corp and Britain’s Standard Life, and it is India’s largest fund manager measured by assets under management.  The Morgan Stanley mutual funds have a combined 32.9 billion rupees in assets under management.  This transaction follows Morgan Stanley’s sale of its Indian private wealth management business to Standard Chartered in May.

To read the press release, please click here.


Categories

Investment Manager M&A, Mutual Fund M&A, Transactions