Manulife Investment completes 49% stake acquisition in Mahindra MF

Joint venture to be oriented towards retail assets, deeper penetration

Canada-based asset manager Manulife on Wednesday completed a 49 per cent stake purchase in Mahindra Mutual Fund (MF), for a consideration of $35 million (Rs 265 crore).
 

At the time the deal was announced last year, it valued Mahindra MF at 10.4 per cent of its asset size, which was among the richest valuations for any such deal seen in the MF industry. In March quarter, Mahindra MF had average asset base of Rs 5,396 crore.

“Getting a partner like Manulife in the prevailing conditions, will help