Baroda Asset Management India Limited (“AMC”), investment manager
to Baroda Mutual Fund (“Mutual Fund”), is a wholly owned
subsidiary of Bank of Baroda and is positioned to serve the varied asset management
needs of investors in India through a range of equity, debt and money
market offerings.
With a focus on enhancing the overall customer experience, the
AMC is working towards:
- Enhancing the existing
product range to include products that will provide investors with a much
wider choice suited to their diverse needs and risk profiles
- Providing consistent
investment performance through sound investment management
- Creating an increasing
number of access points for investors through the vast branch network of
Bank of Baroda
- Bringing in the high levels
of compliance and corporate governance
- Introducing increasingly
innovative and useful service features on an ongoing basis
- Making it easier for
investors to receive prompt and effective levels of customer service
Brief history of the company : In 2008, Pioneer Global Asset Management SpA (“PGAM”) acquired 51% stake
in the AMC, which was renamed as Baroda Pioneer Asset Management Company Ltd.
and PGAM became a co-sponsor of the Mutual Fund. The joint venture had Rs. 30
crores in AAuM in June 2008 which grew to Rs. 12,044 crores in July 2019. The AMC continues its path of success as it grew to become a serious
player in the mutual fund industry.
Our sponsor for 10
years, Pioneer Investments, with their merger worldwide with another asset
management company, have moved out of the joint venture and Bank of Baroda,
India’s 2nd largest PSU Bank has now become the sole sponsor for the Mutual
Fund.
On September 28, 2018, Bank of Baroda acquired the
entire shareholding of UniCredit S.p.A. (erstwhile PGAM, which merged into its
holding company viz. UniCredit S.p.A. effective November 1, 2017) held in the
AMC and Baroda Pioneer Trustee Company Private Limited (“Trustee”).
Subsequently, the names of the AMC and Trustee have been changed to Baroda
Asset Management India Limited and Baroda Trustee India Private Limited
respectively, and the name of our Mutual Fund has been changed to Baroda
Mutual Fund.