Thursday, January 24, 2013
by
Indian Real Estate News
For twenty years till 2007, Canbank Mutual fund remained an asset management company that had product offerings that did well only in spurts. The Canara bank network offered the reach and the brand had the right DNA to scale heights. In 2007, the AMC came of age with its partnership with Robeco of the Netherlands, a global asset management company which took a 49 per cent stake in the venture. The joint venture combines Canara Bank's Indian experience and Robeco's global experience in asset management. The results are already there to see not only in terms of re-branding but also the performance of some of the fund schemes across both equity and debt categories.
In its new avatar, Canara Robeco has embarked on innovative product offerings and services to suit the needs of retail and institutional clients across both categories. The direction in fund management is also to be seen in the performance of some of the fund schemes that are consistently faring well and also accounting for increase in the assets managed by this AMC. The focus on using the Canara Bank network along with existing distribution will help the AMC consolidate and build on its existing strengths. The only concern in recent times stems from the departure of equity fund managers, which could do away all the good done in recent years.
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