1. Edelweiss Asset Management buys fund biz of JP Morgan Asset

Edelweiss Asset Management buys fund biz of JP Morgan Asset

Edelweiss Asset Management Company has completed acquisition of fund schemes of JP Morgan Asset Management India.

By: | New Delhi | Published: November 28, 2016 10:36 PM
The acquisition is inclusive of JP Morgan Asset Management's India-based onshore mutual fund business and the international fund of funds, it added. (Reuters) The acquisition is inclusive of JP Morgan Asset Management’s India-based onshore mutual fund business and the international fund of funds, it added.
(Reuters)

Edelweiss Asset Management Company has completed acquisition of fund schemes of JP Morgan Asset Management India.

It is a wholly-owned subsidiary of Edelweiss Financial Services Ltd.

“After obtaining the necessary regulatory approvals, the subsidiary has completed the acquisition of the onshore fund schemes managed by JP Morgan Asset Management India,” Edelweiss Financial Services said in a regulatory filing.

The acquisition is inclusive of JP Morgan Asset Management’s India-based onshore mutual fund business and the international fund of funds, it added.

Shares of Edelweiss Financial Services closed at Rs 99.80 on BSE, up 5.55 per cent.

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