DSP Merrill Lynch Investment Managers (DSPMLIM) has got approval from the Securities and Exchange Board of India (Sebi) to change its name to DSP BlackRock Investment Managers to reflect the change in ownership of the asset management company. The mutual fund will be called DSP BlackRock Mutual Fund.
“The change in name, branding and share transfer will take effect by the end of October,” said S Naganath, the president and chief investment officer of DSP Merrill Lynch Fund Managers. The asset management company is still awaiting approval from the RBI since it is a transaction that involves investment by foreign entities.
New York-based hedge fund BlackRock had announced the acquisition of a 40 per cent stake of Merrill Lynch in DSPML Fund Managers in January this year.
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