IDFC Mutual Fund to be renamed Bandhan MF from this date
All of the fund house's schemes would be renamed with the word Bandhan replacing IDFC in all of them
If you hold IDFC Mutual Fund, this information is for you. The company is changing the name of its mutual fund from IDFC Mutual Fund to Bandhan Mutual Fund starting March 13.
The company said in a statement that the fund house's schemes would be renamed, with the word Bandhan replacing IDFC in all of them.
The company will also unveil the brand logo. The logo will closely resemble the current Bandhan Bank logo but will have additional colours and styling.
Regulators had objected to the use of the Bandhan Bank logo for mutual fund operations.
Vishal Kapoor, CEO of AMC said, "Our new name reflects our new sponsorship, and we are proud to now be a part of the Bandhan Group. ... Our new brand identity is a testament to the universality of our commitment and the strength of our resolve to help every saver become an investor.?"
IDFC Asset Management Company was acquired by the consortium, which comprises Bandhan Financial Holdings Limited, GIC, and ChrysCapital.
Bandhan holds 60 per cent of the acquired entity, with control of operations, while the other two will hold 20 per cent each in the AMC.
BFHL will be the sponsor of the mutual fund.
The underlying investment strategy, processes, and team will remain the same, so investors can benefit from the same high-quality investment approach that the fund house is reputed for, the statement said.
The new brand identity is expected to help the company strengthen its market position and boost investor confidence in its offerings.
The company will also continue to focus on providing innovative and client-centric solutions to meet the evolving needs of its customers.
(With inputs from PTI)
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