ture in India
Mumbai : IndusInd
International Holdings Limited (“IIHL”), the promoter of IndusInd Bank, and
Invesco Ltd. (“Invesco”) announced today that they have completed the formation
of their asset management joint venture (“JV”) following IIHL’s acquisition of
a 60% ownership stake in Invesco Asset Management India (“IAMI”) following all
regulatory approvals and closing conditions. With Invesco retaining the balance
40% stake, both IIHL and Invesco will hold joint sponsor status under the
regulatory framework.
As of September 2025, IAMI is the 16th
largest domestic asset manager in India with combined onshore and offshore (through
advisory) average assets under management of INR 148,358
crores for the quarter ending September 2025 and a presence in 40 cities
across the country.
Mr. Ashok Hinduja, Chairman, IIHL, said, “At IIHL, we are very enthused with this JV
with Invesco, to augment our para banking portfolio by including Asset
Management, and be a global financial (BFSI) powerhouse by 2030. This
is the most opportune time, when India, on the back of rising income levels, favourable
demographics, offers enormous investment prospects to all Indians, the diaspora
included. We will endeavour to reach the last home, last investor transparently
and efficiently and live up to investors' expectation that mutual fund sahi
hai”
Mr. Andrew Lo, Chief Executive Officer, Asia
Pacific at Invesco, said: “Our India business
has seen solid growth in the last nine years. We now look forward to the
partnership with IIHL to further expand our distribution capability in the
domestic market. As always, our focus
will remain squarely on industry-leading investment offerings and service for
our India clients with compelling global and domestic investment capabilities.”
Speaking on the
announcement, Mr. Saurabh Nanavati, CEO, Invesco Asset
Management (India) said: "We
are pleased to announce the completion of this strategic transaction. This
joint venture represents the coming together of Invesco’s global expertise in
asset management and IIHL, facilitating its deep local market presence.
Together, we aim to strengthen our reach and expand distribution, especially in
Tier 2 and Tier 3 towns, thereby making quality investment solutions available
to a wider set of investors across India. We also aim to increase our presence
and offerings through GIFT City, SIFs, Passive Products and Digital channels.”
Both partners contribute their respective
strengths to the venture, with Invesco offering its global investment
management expertise and product range, while IIHL will support, through its
promoted entity and subsidiaries, a robust distribution network comprising over
11,000 touchpoints across India and serving a customer base of 45 million. IIHL
will also deploy the reach of several associate entities of its global
shareholders that offer synergistic business operations to widen the customer
base by another 50 million.
There will be no change in IAMI’s focus on
investment excellence and exceptional client service. The JV will continue to
operate under the same management led by Saurabh Nanavati, with the same
disciplined and research-driven investment philosophy and processes that have
been central to its investment offerings since 2008, ensuring strong continuity
for investors, distributors, and other stakeholders.
Motilal Oswal Investment Advisors acted as the
exclusive financial advisor to IIHL. Crawford Bayley and AZB acted as legal
advisors to IIHL & Invesco, respectively.
Founded in 1993 under the visionary
leadership of the late Shri S.P. Hinduja and his three brothers, IIHL is an
investment holding Company well-regulated by the Financial Services Commission,
Mauritius, under a Global Business License and is governed by the Board of
Directors. Its investment portfolio
under various Regulatory jurisdictions comprises Banking Services (IndusInd
Bank, IIHL Bank & Trust Limited- Bahamas), Capital Market Assets (Afrinex
Exchange Limited, Mauritius, with a cumulative listing of $13.5bn of underlying
securities). Recently, it acquired the Insurance Businesses (Life, Non-Life,
and Health) along with the Securities business of Reliance Capital Ltd to
augment its portfolio.
IAMI began operations in India in late 2008
with the acquisition of Lotus India Asset Management Company and has since
grown to serve over 2.9. million retail investor folios and over 48,000
empanelled distributors, with over 70% of its AUM in equity and equity-oriented
assets. Invesco also operates an enterprise centre in Hyderabad employing more
than 1,700 staff across a range of global support functions, including
information technology, investment operations, finance, compliance, and human
resources.
About IndusInd International Holdings Limited
(www.indusindinternational.com)
Originally versed in the banking sector,
IndusInd has, over the years, invested in a wide range of financial services
across several jurisdictions. With a USD 1.2 bn net asset value as of September
2025, IIHL is dedicated to value creation for its global shareholders by maintaining
this dynamic growth through ongoing investment and acquisition of high-value
assets. IIHL’s vision is to be a Global Financial Services Institution with a commitment
to excellence in international orientation, innovation, speed, and strict
compliance with the principles of good corporate governance.
About Invesco Asset Management (India)
Private Limited
Invesco Asset
Management (India) is one of the leading asset management companies in India.
With over INR 148,358 crores of average assets under management
for the quarter ending September 2025 across Mutual funds, PMS and Offshore
Advisory, we serve the investment needs of individual investors, corporates and
institutions through mutual funds and sub-advised portfolios. Our expertise
extends across equity, fixed income and alternative asset classes, where we
offer the complete range of funds designed to suit investment needs. IAMI’s aim
is to provide top-class financial care, impeccable service and best-in-class
investment products. For more details, visit: www.invescomutualfund.com
About Invesco Ltd.
Invesco Ltd. (NYSE:
IVZ) is a global independent investment management firm dedicated to delivering
an investment experience that helps people get more out of life. With offices
in more than 20 countries, our distinctive investment teams deliver a
comprehensive range of active, passive and alternative investment capabilities.
For more information, visit www.invesco.com/corporate
Mutual Fund investments are subject to market
risks, read all scheme related documents carefully.