Financial services major DSP Group on Monday announced that it will buy out BlackRocks 40 per cent stake in joint venture DSP BlackRock Investment Managers Pvt. Ltd, subject to regulatory approvals.
Accordingly, the firm is proposed to be known as DSP Investment Managers Pvt. Ltd. and DSP BlackRock Mutual Fund is proposed to become 'DSP Mutual Fund'.
Currently, DSP Group owns 60 per cent stake in the joint venture, whereas BlackRock Inc. has a 40 per cent holding in the firm.
As on April 30, 2018, DSP BlackRock managed assets in excess of Rs 110,000 crore ($16.5 billion) across equity, fixed income and alternatives with over 2 million individual investors.
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