Mahindra AMC, a unit of Indian non-banking finance company Mahindra & Mahindra Financial Services (Mahindra Finance), has formed a joint venture (JV) with Canadian financial services provider Manulife.

Mahindra will have a 51% stake in the JV, with Manulife owning the remainder.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The JV will work to raise awareness about market-oriented financial instruments such as mutual funds and the growth of multi-channel distribution.

Mahindra AMC MD and CEO Ashutosh Bishnoi said: “Mahindra AMC has, over the last few years, successfully made in-roads into areas beyond the traditional investment markets.

“Our experience shows that there is tremendous appetite for investment products and potential for growth, in these markets. Manulife Investment Management fits as the right strategic partner for Mahindra Mutual fund as they bring an enormous pool of fund management talent, backed by global best practices and processes.

“Manulife’s on the ground experience in global emerging markets will help to cater to the needs of the developing Indian retail fund market.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Manulife Investment Management president and CEO for Global Wealth & Asset Management Paul Lorentz said: “Mahindra & Mahindra Financial Services has become a market leader by focusing on meeting unmet customer needs, which mirrors our own experiences in growing our business in Asia.”

Mahindra Finance manages more than $9.7bn in assets and has a customer base of over 6.1 million.

Manulife oversaw over $849bn in assets at the end of March 2019. The firm’s staff strength was 34,000 at the end of 2018.