20/12/2010
Indian firm IDFC and Natixis Global AM sign an asset management partnership
p { margin-bottom: 0.08in; } The Indian infrastructure specialist financial group IDFC and Natixis Global Asset Management (NGAM) on 17 December announced that they have signed a strategic partnership for their collective asset management activities. The partnership will allow IDFC Asset Management Company (IDFC AMC) to considerably extend its international distribution, and gain access to global investors who would like to profit from the growth of the Indian economy by investing in Indian stock markets. It will also strengthen the global presence of NGAM, which has a significant presence in Asia, especially Japan, Taiwan, Singapore, and China. The new NGAM initiative is a sign of the firm’s ambitions to diversify its global activities. The partnership will also allow IDFC AMC to offer national investors access to international investment opportunities, through asset management products managed by NGAM. As a part of the agreement, NGAM will acquire a minority stake of 25% in the capital of IDFC AMC and its fiduciary company. Assets under management at IDFC as of 30 September totalled Usd4.4bn. Pierre Servant, CEO of NGAM, says “this partnership with IDFC AMC will allow us to offer our multi-boutique investment product range to a new market of investors. We feel that our extended range of products is particularly well-suited to this market, composed of a rapidly growing middle class. This agreement also gives us a way to strengthen our activities in Asia, and represents an important step towards realising our objectives of greater international diversification of our activities.”
