CHENNAI: Sundaram BNB Paribas Mutual is now Sundaram Mutual, wholly owned by Sundaram Finance Limited (SFL). This renaming to Sundaram Mutual comes in the wake of Sundaram Finance’s buy-out of BNP Paribas stake in the asset management subsidiary.
After the said stake buy-out, the sponsor of the Sundaram Mutual Fund is Sundaram Finance Limited, the trustee is Sundaram Trustee Company Limited and the investment manager is Sundaram Asset Management Company Limited, which now functions as 100 per cent wholly owned subsidiary of SFL.
“To net international investment, we are exploring the markets in Middle East, Europe, Africa, Singapore and Mauritius,’’ said T P Raman, Managing Director, Sundaram Mutual, while addressing the media here on Wednesday.
He also said that the company would be in a position to tap tier II and tier III cities as also tier III and tier IV towns for enlarging its retail investment portfolio with the introduction of several new products in times to come.
“We have a strong equity platform which has attracted attention globally and we are in talks with legal firms on getting foreign investments,’’ Raman said and added, “These funds will be used for infrastructure, energy and other projects.’’
T T Srinivasa Raghavan, Managing Director, Sundaram Finance Limited, said, “We will go strong in the retail finance space as also the mutual fund space as Sundaram Finance is still rated as a strong retail business player in the financial inclusion scheme of things for the last 60 years.’’
Meanwhile, Harsha Viji has joined Sundaram Mutual as Deputy Managing Director. Harsha Viji is 35 years of age and is a qualified CA and holds a MBA from Ross School of Business, University of Michigan at Ann Arbor.
