IndusInd International Holdings Ltd (IIHL), part of the Hinduja Group, has officially commenced its joint venture with US-based Invesco Ltd by acquiring a 60% stake in Invesco Asset Management India (IAMI). This partnership aims to strengthen mutual fund distribution and investment access across India, leveraging the combined expertise of both financial entities.
Joint Venture and Strategic Synergies
Following receipt of all necessary approvals, IIHL becomes the majority stakeholder, while Invesco retains 40% and continues as a joint sponsor. The restructured entity — Invesco Asset Management India — currently ranks as India’s 16th largest asset manager, managing an average AUM of ₹1,48,358 crore as of September 2025.
IAMI operates in 40 cities, supported by over 11,000 distribution touchpoints and catering to 45 million customers. IIHL plans to further expand this base by an additional 50 million investors through its global network and affiliates.
Operational Continuity and Market Expansion
The asset manager will continue under the leadership of CEO Saurabh Nanavati, maintaining its research-driven investment philosophy and commitment to client service. Nanavati highlighted plans to expand through GIFT City, enhance passive fund offerings, and strengthen digital investment platforms.
Andrew Lo, CEO of Invesco Asia Pacific, stated that the partnership would help broaden domestic market reach while ensuring the delivery of industry-leading investment products.
Retail Strength and Distribution Network
The joint venture builds on IAMI’s robust retail foundation, comprising:
- 2.9 million investor folios
- 48,000 empanelled distributors
- Over 70% of AUM invested in equity and equity-oriented schemes
Summary:
IndusInd International Holdings Ltd has completed its joint venture with Invesco Ltd, acquiring a 60% stake in Invesco Asset Management India. The entity, India’s 16th largest asset manager, will continue under existing management and focus on expanding distribution, digital platforms, and equity-based investment offerings, further strengthening its presence in India’s mutual fund industry.
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