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    HomeNewsBusinessMutual FundsSBI Mutual Fund to acquire Daiwa Mutual Fund

    SBI Mutual Fund to acquire Daiwa Mutual Fund

    SBI Mutual Fund has agreed to acquire Daiwa Mutual Fund

    June 06, 2013 / 16:33 IST

    SBI Mutual Fund has agreed to acquire Daiwa Mutual Fund. According to SBI’s press release, this acquisition will help SBI MF to acquire a unique client base which will increase its penetration in retail and HNI space.


    Currently, SBI MF is managing Rs 54905.44 crore and Daiwa MF is managing 266.13 crore as on Mar 31, 2013. The acquisition will not only benefit the unit holder of SBI MF but also units holders of Daiwa MF as it will expose schemes to the best practices of SBI AMC.


    The value of the transaction is not disclosed yet by either party.


    After the transaction is complete, all the schemes of Daiwa Mutual Funds will become schemes of SBI mutual funds. Investors will be given an option to exit without exit load charges.

    first published: Jun 6, 2013 04:33 pm

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