Aditya Birla Sun Life Asset Management

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Aditya Birla Sun Life Asset Management Company Limited
TypePublic
ISININE404A01024
IndustryFinancial services
Founded1994
Headquarters
Mumbai, Maharashtra
,
India
Areas served
26 countries
Key people
A. Balasubramanian (CEO)
Services
RevenueIncrease ₹1,408 crore (US$180 million) (2022)
Increase ₹894 crore (US$110 million) (2022)
Increase ₹672 crore (US$84 million) (2022)
Total assetsIncrease ₹2,434 crore (US$300 million) (2022)
Total equityIncrease ₹2,196 crore (US$280 million) (2022)
OwnersAditya Birla Capital (51%)
Sun Life Financial Inc.(49%)[2]
Websitemutualfund.adityabirlacapital.com

Aditya Birla Sun Life Asset Management Company Ltd. (ABSLAMC), formerly known as Birla Sun Life Asset Management Company Limited, is an investment managing company registered under the Securities and Exchange Board of India. It is a joint venture between the Aditya Birla Capital of India and the Sun Life Financial Inc. of Canada. The company offers sector-specific equity schemes, fund of fund schemes, hybrid and monthly income funds, debt and treasury products and offshore funds.[3][4][5]

History

Birla Sun Life Asset Management Company was established in 1994 as a joint venture between the Aditya Birla Group and the Sun Life Financial of Canada where the former owns 51% and the rest by latter which is a leading international financial services organization providing a diverse range of wealth accumulation, protection products, and services to individuals and corporate customers.[6][7]

Aditya Birla Financial Services Group (ABFSG) is the umbrella brand for all the financial services business of The Aditya Birla Group. ABFSG ranks among the top five fund managers in India (including LIC) with an AUM of around Rs 3 trillion by 2021.[6] The company provides life insurance, asset management, lending (excluding Housing), housing finance, equity & commodity broking, wealth management and distribution, online money management portal—Aditya Birla Money MyUniverse, general insurance advisory and private equity and health insurance businesses, for retail and corporate customers. In FY 2013–14, ABFSG reported consolidated revenue from these businesses at just under ₹70 billion (US$880 million) and profits of about ₹7.5 billion (US$94 million).[8] The company has 14,000 employees and over 6 million customers, with 1,500 points of presence and about 130,000 agents/channel partners.[citation needed]

Sun Life Financial, Inc. operates in India through Aditya Birla Sun Life Asset Management. Established in 1994, Birla Sun Life Asset Management Company Ltd. (BSLAMC), investment manager for Birla Sun Life mutual fund, has been a joint venture between the Aditya Birla Group and Sun Life Financial Inc. since 1999. Birla Sun Life Mutual Fund was the fourth largest Fund house in India based on domestic average assets under management as published by AMFI for the quarter ended 31 March 2014.[citation needed]

On 20 April 2021, Aditya Birla Sun Life Asset management company filed Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India in order to raise funds through an initial public offering (IPO).[9]

Aditya Birla Sun Life Asset management company's IPO subscriptions to open on 29 September 2021 and close on 1 October 2021 at a price band of Rs 695 - Rs 712 per share.[10]

Mutual funds

It offers a various investment schemes including debt and treasury products, investments including fund of fund schemes, Wealth Creation, Tax Savings, diversified and sector specific equity schemes and also introduced research-based investments, wealth management services, Regular Income Schemes, offshore funds, hybrid and monthly income funds, and Savings Schemes. Till year 2020, it had the largest team of research analysts in the Insurance industry with operations in major worldwide markets, including the United Kingdom, United States, Canada, Japan, Indonesia, Philippines, Ireland, China, Hong Kong, Bermuda, and India.[citation needed]

See also

References

  1. ^ a b c d e f "Our Businesses | Aditya Birla Capital".
  2. ^ Sonavane, Ravindra N. (14 April 2021). "Aditya Birla Capital, Sun Life to sell 13.5% stake in asset management biz IPO". mint. Retrieved 23 April 2021.
  3. ^ Allirajan, M (25 February 2016). "Birla Sun Life Mutual Fund introduces 100% paperless, Aadhaar-based eKYC". The Times of India. Retrieved 15 June 2022.
  4. ^ K, Muthukumar (28 August 2016). "Birla Sun Life Cash Plus: A secure avenue for surplus funds". The Hindu Business Line. Retrieved 3 November 2016.
  5. ^ "Birla Sun Life MF buys 7.19 lakh shares of Shriram City Union". www.moneycontrol.com. Retrieved 3 November 2016.
  6. ^ a b Laskar, Anirudh (8 March 2021). "Birla Sun Life plans1 raise ₹5,000 crore from share sale". mint. Retrieved 27 April 2021.
  7. ^ "About Us - Aditya Birla Sun Life Mutual Fund".
  8. ^ "Aditya Birla Group- The big player of Indian Business space. Sources". InsideIIM. Retrieved 9 April 2022.
  9. ^ Madia, Chirag (20 April 2021). "Aditya Birla MF files IPO document with Sebi; issue size Rs 2,000 cr". Business Standard India. Retrieved 23 April 2021.
  10. ^ "Aditya Birla Sun Life AMC IPO Price Band Likely At Rs 695 - Rs 712, Valuation Over Rs 20,000 Crore: Sources". Moneycontrol. Retrieved 24 September 2021.
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