Birla Sun Life Asset Management

Last updated
Aditya Birla Sun Life Asset Management Company Limited
Type Private
Industry Financial services
Founded1994 in India
Headquarters
Mumbai, Maharashtra
,
India
Areas served
26 countries
Key people
A. Balasubramanian (CEO)
Services
Parent Aditya Birla Group [2]
Sun Life Financial Inc. [2]
Website mutualfund.adityabirlacapital.com

Aditya Birla Sun Life Asset Management Company Ltd. (ABSLAMC) formerly known as Birla Sun Life Asset Management Company Limited, is an investment managing company registered under the Securities and Exchange Board of India. It is a joint venture between the Aditya Birla Group of India and the Sun Life Financial Inc. of Canada. The company offers sector specific equity schemes, fund of fund schemes, hybrid and monthly income funds, debt and treasury products and offshore funds. [3] [4] [5]

Contents

History

Birla Sun Life Asset Management Company was established in 1994 as a joint venture between the Aditya Birla Group and the Sun Life Financial of Canada. Aditya Birla Sun Life Asset management company has filed Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India in order to raise funds through an Initial public offering(IPO) on 20 April 2021. [6]

The Aditya Birla Group

The Aditya Birla Group is an Indian multinational conglomerate named after Aditya Vikram Birla, headquartered in the Aditya Birla Centre in Worli, Mumbai, India. [7] [8] It operates in 40 countries with more than 120,000 employees worldwide. [9] The group was founded by Seth Shiv Narayan Birla in 1857. The group interests in sectors such as viscose staple fibre, metals, cement (largest in India), viscose filament yarn, branded apparel, carbon black, chemicals, fertilisers, insulators, financial services, telecom (third largest in India), BPO and IT services. The group had a revenue of approximately US$41 billion in year 2015. [10] It is the third-largest Indian private sector conglomerate behind Tata Group with revenue of just over US$100 billion and RIL with revenue of US$74 billion.[ citation needed ] Aditya Birla Financial Services Group (ABFSG) is the umbrella brand for all the financial services business of The Aditya Birla Group. ABFSG ranks among the top five fund managers in India (including LIC) with an AUM of US$23 billion.[ citation needed ] The company provides life insurance, asset management, lending (excluding Housing), housing finance, equity & commodity broking, wealth management and distribution, online money management portal—Aditya Birla Money MyUniverse, general insurance advisory and private equity and health insurance businesses, for retail and corporate customers. In FY 2013–14, ABFSG reported consolidated revenue from these businesses at just under ₹70 billion (US$980 million) and profits of about ₹7.5 billion (US$110 million).[ citation needed ] The company has 14,000 employees and over 6 million customers, with 1,500 points of presence and about 130,000 agents/channel partners.[ citation needed ]

Sun Life Financial

Sun Life Financial, Inc. is a Canada-based financial services company known primarily as a [life insurance] company. It is one of the largest life insurance companies in the world, and also one of the oldest, having been founded in 1865. Sun Life Financial provides investment management with over CAD$734 billion in assets under management operating in a number of countries. [11] Sun Life ranks number 236 on the Forbes Global 2000 list for 2010 as well as on the Fortune 500 list.[ citation needed ] It provides asset management through MFS Investment Management and Sun Life Global Investments (Canada) Inc. that it launched in 2010, and also started a third-party asset-management arm in 2014, under the brand name Sun Life Investment Management, seeking to add fee revenue and distance itself from more capital-intensive operations such as annuities.[ citation needed ] The insurer in May 2014 hired Carl Bang from the Qatar Foundation Endowment as president of Sun Life Investment Management Inc. to help lead a push with pension clients.[ citation needed ] Sun Life had about $734 billion of assets under management as of Dec. 31 2014 including mutual funds and insurance-unit holdings.[ citation needed ] In January 2015, Sun Life Financial Inc. announced its purchase of U.S. asset manager Ryan Labs, adding US$5.1B under management to strengthen its asset management presence in United States. It is part of the Sun Life Investment Management organization.[ citation needed ] In July 2015, Sun Life Financial Inc. completed its purchase of U.S. asset manager Prime Advisors, Inc., adding US$13B under management. It is part of the Sun Life Investment Management organization.[ citation needed ] The company operates in India as Aditya Birla Sun Life Asset Management. Established in 1994, Birla Sun Life Asset Management Company Ltd. (BSLAMC), investment manager for Birla Sun Life mutual fund, has been a joint venture between the Aditya Birla Group and Sun Life Financial Inc. since 1999. Birla Sun Life Mutual Fund was the fourth largest Fund house in India based on domestic average assets under management as published by AMFI for the quarter ended March 31, 2014.[ citation needed ] Sun Life Financial also provides asset management in the Philippines. It was currently the largest non-bank affiliated asset management company in the country with almost P47 billion in assets under management (AUM) as of December 2014.[ citation needed ]

See also

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References

  1. 1 2 3 4 5 6 https://www.adityabirlacapital.com/about-us/our-businesses
  2. 1 2 https://mutualfund.adityabirlacapital.com/about-us
  3. ↑ "Birla Sun Life Mutual Fund introduces 100% paperless, Aadhaar-based eKYC – Times of India". The Times of India. Retrieved 2016-11-03.
  4. ↑ K, Muthukumar (2016-08-28). "Birla Sun Life Cash Plus: A secure avenue for surplus funds". The Hindu Business Line. Retrieved 2016-11-03.
  5. ↑ "Birla Sun Life MF buys 7.19 lakh shares of Shriram City Union". www.moneycontrol.com. Retrieved 2016-11-03.
  6. ↑ "Aditya Birla Sun Life AMC IPO".
  7. ↑ "Contact." Aditya Birla Group. Retrieved on 6 November 2013. "Aditya Birla Group Headquarters - Aditya Birla Centre, 3rd Floor, S K Ahire Marg, Worli, Mumbai, India"
  8. ↑ "Media | Press releases | Hindalco Industries Ltd. and Novelis Inc. announce an agreement for Hindalco's acquisition of Novelis for nearly US$ 6 billion". Hindalco. 11 February 2007. Retrieved 16 July 2010.CS1 maint: discouraged parameter (link)
  9. ↑ "Aditya Birla Group – Aditya Birla Group India – Aditya Birla Group Profile – History of Aditya Birla Group". Iloveindia.com. 21 July 2007. Archived from the original on 25 August 2010. Retrieved 16 July 2010.CS1 maint: discouraged parameter (link)
  10. ↑ "Best Employers in India 2007". Hewitt Associates Best Employers in India Survey. 13 April 2007. Archived from the original on 14 October 2007. Retrieved 20 September 2007.CS1 maint: discouraged parameter (link)
  11. ↑ 2013 At A Glance (PDF). Sun Life Financial. December 31, 2014. Retrieved 2014-08-18.CS1 maint: discouraged parameter (link)
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