The DSP Group will buy out BlackRock's minority stake in joint venture DSP BlackRock Investment Managers Pvt. Ltd.
The resultant entity, after BlackRock's exit, will be known as DSP Investment Managers while DSP BlackRock Mutual Fund is proposed to become DSP Mutual Fund, the asset manager said in a press release. The deal is subject to regulatory approvals.
As India's asset management industry grows, the DSP Group is well poised to capture a significant portion of that growth, Hemendra Kothari, Chairman, DSP BlackRock Investment Managers said in the statement. “Pursuing the investor's best interests” will remain the core of mission, as the company enters the next phase as DSP Mutual Fund, he added.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
-
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI -
'One Can Never Get Good News And Bad Share Price': S Naren, ICICI Pru Life AMC On NDTV Profit Ignite
BlackRock currently has a 40 percent stake in the joint venture, which manages co-branded mutual funds in India. DSP BlackRock manages and advises assets in excess of Rs 1,10,000 crore ($ 16.5 billion) across equity, fixed income and alternatives (as on 30th April 2018) with over 2 million individual investors.
“BlackRock remains deeply committed to India, and we look forward to having a continued positive impact on the asset management industry in the country,” Laurence Fink, chairman and CEO of BlackRock, said in a separate statement
The DSP Group's joint venture arrangement with Merrill Lynch Investment Managers in 1996 established its retail asset management business in India, DSP Merrill Lynch Asset Management (India) Ltd. This business went on to become DSP BlackRock Investment Managers Pvt. Ltd. in 2008, after BlackRock Inc. took over Merrill Lynch's global asset management business in 2006.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
