religare mutual fund will now be religare invesco mutual fund - 15 may, 2013
DESCRIPTION
Check current updated religare media news coverages of day to day basis. Also check for new name of Mutual Fund as Religare Invesco mutual funds.TRANSCRIPT
Publication Financial Express
Date 15.05.2013
Description Religare Enterprises closes Invesco JV deal
Publication Financial Chronicle
Date 15.05.2013
Description Religare MF changes name
Publication Business Bhaskar
Date 15.05.2013
Description Religare MF will now be Religare Invesco Mutual Fund
Publication National Duniya
Date 15.05.2013
Description Religare MF’s new name
Publication Moneycontrol.com
Date 15.05.2013
Description Religare MF will now be Religare Invesco Mutual Fund Religare Mutual Fund today announced the completion of the transaction, naming Invesco as the joint venture partner in Religare Asset Management.
Religare Enterprises Limited (REL), a leading diversified Indian Financial services group
and Invesco Limited, a leading independent global investment management firm with
over US$ 748.5 billion of assets under management (as of April 30, 2013), today
announced the completion of the transaction, naming Invesco as the joint venture partner
in Religare Asset Management. On March 28, 2013, Invesco acquired 49% shareholding
in Religare Asset Management Company Private Limited and Religare Trustee Company
Private Limited and now acts as the co-sponsor of Religare Mutual Fund. Religare
Mutual Fund will now be known as Religare Invesco Mutual Fund. The mutual fund
schemes will also be renamed accordingly.
Religare Asset Management is among the Top 15 asset managers in India and currently
manages over INR 15,608 crores (US$ 2.89 billion) of average assets under management
(quarter ending March 2013, including offshore and domestic advisory). The transaction
was announced on September 27, 2012, where the NYSE-listed Invesco Ltd., (through its
indirectly wholly owned subsidiary Invesco Hong Kong Ltd.) had announced its intention
to acquire 49% stake in Religare Asset Management Company Private Limited and
Religare Trustee Company Private Limited. All necessary regulatory and board approvals
have been received.
The Boards of the Asset Management Company and the Trustee Company have also been
reconstituted. Mr. Andrew Lo, Senior Managing Director and Chief Executive Asia
Pacific - Invesco, has joined the AMC Board of Directors while Mr. Dean Chisholm,
Regional Head of Operations, Asia Pacific Invesco has joined the Board of Directors of
the Trustee Company.
Mr. Saurabh Nanavati will continue to head the joint venture as the Chief Executive
Officer along with the existing senior management team.
Publication Business Standard Online
Date 15.05.2013
Description Religare completes Invesco stake sale. The mutual fund has been renamed the Religare Invesco Mutual Fund
Religare Asset Management has completed a 49% stake sale to global investment
management firm Invesco.
There has been a rejig in the boards of the asset management company with Andrew Lo,
Senior Managing Director and Chief Executive Asia Pacific – Invesco joining the same.
Also, Dean Chisholm, Regional Head of Operations, Asia Pacific – Invesco has joined
the Board of Directors of the Trustee Company.
“Saurabh Nanavati will continue to head the joint venture as the Chief Executive Officer
along with the existing senior management team,” said the press release.
The mutual fund has been renamed the Religare Invesco Mutual Fund.
The change marks the finalization of a deal which began with Invesco announcing its
intention to pick up 49% stake in the company in September 2012.
Invesco has in excess of $748.5 billion in assets under management as of April 30, 2013,
according to the company statement.
Religare had average assets of Rs.15,608 crore during the March quarter. The mutual
fund is a part of Religare Enterprises whose businesses include asset management,
insurance, lending, broking and wealth management.
The various schemes of the mutual fund will also be renamed to reflect the change in now
that Invesco is on board, said the press statement.
Publication India Infoline
Date 15.05.2013
Description Religare Mutual Fund renamed as Religare Invesco Mutual Fund
Religare Mutual Fund is renamed as Religare Invesco Mutual Fund with effect from 14
May 2013. The change follows the September 2012 Religare-Invesco deal, wherein
Religare AMC sold 49% stake to US-based asset management company Invesco.
Following this, Religare Asset Management Company Pvt Ltd is changed to Religare
Invesco Asset Management Company Pvt Ltd. with effect from 2 April 2013.
The name, Religare Trustee Company Pvt. Ltd. is changed to Religare Invesco Trustee
Company Pvt. Ltd. with effect from 1 May 2013.
The word 'Religare' will be replaced by 'Religare Invesco' in all funds' names and
documents.
Publication Myiris
Date 15.05.2013
Description Religare completes Invesco stake sale
Religare Enterprises (REL) today announced the completion of the transaction wherein
Invesco acquired 49% shareholding in Religare Asset Managemet Company and Religare
Trustee company and now acts as the co-sponsor of Religare Mutual Fund.
Religare Mutual Fund will now be known as Religare Invesco Mutual Fund. The mutual
fund scheme will also be name accordingly.
Saurabh Nanavati will continue to head the joint venture as the chief executive officer
along with the existing senior management team.
Shares of the company gained Rs 0.35, or 0.11%, to trade at Rs 309.95. The total volume
of shares traded was 19,589 at the BSE (1.24 p.m., Tuesday).
Publication The Asset
Date 15.05.2013
Description Religare, Invesco finalize partnership accord
India’s financial services group Religare Enterprises and global investment manager
Invesco have completed the transaction that makes the latter the joint venture partner in
Religare Asset Management.
On March 28 2013, Invesco acquired 49% shareholding in Religare Asset Management
Company Private and Religare Trustee Company Private and now acts as the co-sponsor
of Religare Mutual Fund -- now known as Religare Invesco Mutual Fund. The mutual
fund schemes will also be renamed accordingly.
Religare Asset Management is among the top 15 asset managers in India and currently
manages over US$2.89 billion of average assets under management (quarter ending
March 2013, including offshore and domestic advisory).
The transaction was announced on September 27 2012, where the NYSE-listed Invesco,
(through its indirectly wholly owned subsidiary Invesco Hong Kong) had announced its
intention to acquire 49% stake in Religare Asset Management and Religare Trustee. All
necessary regulatory and board approvals have been received.
The Boards of the asset management company and the trustee company have also been
reconstituted. Andrew Lo, senior managing director and chief executive Asia-Pacific -
Invesco, has joined the AMC board of directors while Dean Chisholm, regional head of
operations, Asia-Pacific – Invesco has joined the board of directors of the trustee
company.
Saurabh Nanavati will continue to head the joint venture as the chief executive officer
along with the existing senior management team.
Publication Business Standard
Date 15.05.2013
Description A shrinking Tata Steel Europe good for parent
Publication Financial Chronicle
Date 15.05.2013
Description Gold Outlook