Kotak to acquire PineBridge schemes

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Kotak to acquire PineBridge schemes

 

Kotak Mahindra Asset Management Company, a wholly owned subsidiary of Kotak Mahindra Bank, has executed a definitive agreement to acquire the domestic schemes of PineBridge Mutual Fund (PBI MF), subject to regulatory approvals. On 31 August, the assets under management of Kotak Mahindra Mutual Fund stood at `37,000 crore and that of PBI MF at approximately `660 crore.

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