DLF, Prudential launch asset management company
US-based Prudential Financial Inc (PFI) on Tuesday announced an asset management joint venture with real estate giant DLF Ltd, with which it already shares a life insurance partnership.
By PTI |
NEW DELHI: US-based Prudential Financial Inc (PFI) on Tuesday announced an asset management joint venture with real estate giant DLF Ltd, with which it already shares a life insurance partnership.
DLF Pramerica Asset Managers Pvt Ltd, which marks the entry of the world's 14th largest asset manager into India, will offer a wide choice of mutual funds and investment products to Indian consumers starting next fiscal.
DLF, the country's most valued realty firm, will be a minority partner in the venture with 39 per cent stake, but would lend its brand that is almost a household name in the country. PFI, which is unrelated to Prudential Plc of UK, will control the JV with 61 per cent stake.
DLF Pramerica Asset Managers Pvt Ltd, which marks the entry of the world's 14th largest asset manager into India, will offer a wide choice of mutual funds and investment products to Indian consumers starting next fiscal.
DLF, the country's most valued realty firm, will be a minority partner in the venture with 39 per cent stake, but would lend its brand that is almost a household name in the country. PFI, which is unrelated to Prudential Plc of UK, will control the JV with 61 per cent stake.
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