IDFC Mutual Fund, which was founded in 2000, announced that it is set to renovate itself as Bandhan Mutual Fund with effect from March 13.
Customers will soon discover all IDFC Mutual Fund schemes have been rebranded as Bandhan Mutual Fund after the effective date.
“Since the underlying investment strategy, processes, and team continue to remain the same, investors can benefit from the same high‐quality investment approach that the fund house is reputed for,” IDFC Mutual Fund said in an official statement.
“Our new name reflects our new sponsorship, and we are proud to now be a part of the Bandhan Group. Backed by the legacy, goodwill, and inclusiveness that our Sponsors represent, we are confident that our investors will continue to benefit from the same passion, expertise, and focus that they have experienced over the years,” Vishal Kapoor, CEO of the AMC, said.
Customers will observe the fresh IDFC Mutual Fund name and logo starting on Monday, along with exposure to the fund house's dedicated website, following the makeover.
The announced acquisition of IDFC Mutual Fund by the Bandhan-led consortium received approval from the Securities and Exchange Board of India effective December 2022.
A group led by Bandhan Financial Holdings GIC and Chrys Capital agreed to hand over ₹4,500 crore to parent IDFC to acquire IDFC AMC and IDFC AMC Trustee Company, according to a statement of the AMC released on the commencement of the previous year.
“As a result, the unitholders of IDFC MF would continue to benefit from the same high‐quality investment approach and focus that IDFC AMC is reputed for,” the AMC said in a statement.