statesman news service
KOLKATA, 4 JUNE: SBI Mutual Fund will acquire all the existing India domiciled fund schemes of Daiwa Mutual Fund.
The transaction is subject to regulatory approvals. Post completion of the transaction, all existing schemes of Daiwa MF will become schemes of SBI MF and all existing unit holders of schemes of Daiwa MF will become unit holders of SBI Mutual Fund.
This acquisition will help SBI MF get a unique client base which will increase its penetration in retail space. Daiwa AMC has built robust relationships with its distributors and SBI MF intends to leverage on those relationships.