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Canara Bank of India and Robeco to launch asset management venture
Canara Bank of India, and asset manager Robeco of the Netherlands, are to set up a joint asset management venture in India. The joint venture, Canara Robeco Asset Management, which is still subject to regulatory approval, aims to offer mutual funds, structured and alternative products to investors in India.
The partnership will be one of equals in terms of governance, with Canara Bank retaining 51% of the shares. Canara Bank’s existing asset management arm, Canbank Mutual Fund, will form a part of the joint venture. There will be a 50-50 balance between retail and institutional clients, as well as between equity and other products, in terms of assets under management.
Canara Robeco Asset Management will offer plain vanilla funds and a flagship fund in every major asset class, followed by structured
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