a big development, Sundaram Asset Management Company Limited has announced the purchase of the asset management businesses of Principal Asset Management Pvt. Ltd. Sundaram will acquire the schemes managed by Principal Asset Management and acquire 100% of the share capital of Principal AMC, Principal Trustee Company Pvt. Limited and Principal Retirement Advisors Pvt. Ltd.
The fund houses have said that they will ensure that there will be no disruption of service to their partners and investors in the interim and a seamless transfer once approval is obtained.