In the Margins

Edelweiss acquires JPMorgan's India fund biz

March 22, 2016

By Reuters

Edelweiss Asset Management has bought JPMorgan Asset Management's India unit. The deal is the latest example of consolidation in India's fragmented, but reviving, mutual funds industry. Neither firm disclosed the terms of the deal, but two sources familiar with the transaction said JPMorgan's business was valued at around 2% of assets under management, or 1.4 billion rupees ($20.99 million). Read the original story from Reuters.