Edelweiss Asset Management buys fund biz of JP Morgan Asset
It is a wholly-owned subsidiary of Edelweiss Financial Services Ltd.
"After obtaining the necessary regulatory approvals, the subsidiary has completed the acquisition of the onshore fund schemes managed by JP Morgan Asset Management India," Edelweiss Financial Services said in a regulatory filing.
The acquisition is inclusive of JP Morgan Asset Management's India-based onshore mutual fund business and the international fund of funds, it added.
Shares of Edelweiss Financial Services closed at Rs 99.80 on BSE, up 5.55 per cent.
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