 "Amundi's Pioneer buy could trigger churn in domestic MF space")
French asset manager Amundi's purchase of Pioneer Investments last month has put a question mark over both the entities' investments in the domestic mutual fund (MF) space.
Amundi, by virtue of its 37 per cent stake, is one of the sponsors of SBI MF. Similarly, Pioneer Investments is a sponsor of Baroda Pioneer MF, with 51 per cent stake. The global acquisition could deem Amundi as a sponsor of both the fund houses.
Regulations restrict one entity from being a sponsor of more than one asset management company (AMC). A sponsor is an entity that, acting alone or with another
