IndusInd International & Invesco JV Creates India’s 16th Largest Asset Manager with ₹1.48 Lakh Crore AUM

IndusInd International Holdings Limited (“IIHL”), the promoter of IndusInd Bank, and Invesco Ltd. (“Invesco”) announced today that they have completed the formation of their asset management joint venture (“JV”) following IIHL’s acquisition of a 60% ownership stake in Invesco Asset Management India (“IAMI”) following all regulatory approvals and closing conditions. With Invesco retaining the balance 40% stake, both IIHL and Invesco will hold joint sponsor status under the regulatory framework.

As of September 2025, IAMI is the 16th largest domestic asset manager in India with combined onshore and offshore (through advisory) average assets under management of INR 148,358 crores for the quarter ending September 2025 and a presence in 40 cities across the country.

Both partners contribute their respective strengths to the venture, with Invesco offering its global investment management expertise and product range, while IIHL will support, through its promoted entity and subsidiaries, a robust distribution network comprising over 11,000 touchpoints across India and serving a customer base of 45 million. IIHL will also deploy the reach of several associate entities of its global shareholders that offer synergistic business operations to widen the customer base by another 50 million.

There will be no change in IAMI’s focus on investment excellence and exceptional client service. The JV will continue to operate under the same management led by Saurabh Nanavati, with the same disciplined and research-driven investment philosophy and processes that have been central to its investment offerings since 2008, ensuring strong continuity for investors, distributors, and other stakeholders.

Mr. Ashok Hinduja, Chairman, IIHL, said, “At IIHL, we are very enthused with this JV with Invesco, to augment our para banking portfolio by including Asset Management, and be a global financial (BFSI) powerhouse by 2030. This is the most opportune time, when India, on the back of rising income levels, favourable demographics, offers enormous investment prospects to all Indians, the diaspora included. We will endeavour to reach the last home, last investor transparently and efficiently and live up to investors' expectation that mutual fund sahi hai. ”

Mr. Andrew Lo, Chief Executive Officer, Asia Pacific at Invesco, said: “Our India business has seen solid growth in the last nine years. We now look forward to the partnership with IIHL to further expand our distribution capability in the domestic market. As always, our focus will remain squarely on industry-leading investment offerings and service for our India clients with compelling global and domestic investment capabilities.”

Speaking on the announcement, Mr. Saurabh Nanavati, CEO, Invesco Asset Management (India) said: "We are pleased to announce the completion of this strategic transaction. This joint venture represents the coming together of Invesco’s global expertise in asset management and IIHL, facilitating its deep local market presence. Together, we aim to strengthen our reach and expand distribution, especially in Tier 2 and Tier 3 towns, thereby making quality investment solutions available to a wider set of investors across India. We also aim to increase our presence and offerings through GIFT City, SIFs, Passive Products and Digital channels.”

Motilal Oswal Investment Advisors acted as the exclusive financial advisor to IIHL. Crawford Bayley and AZB acted as legal advisors to IIHL & Invesco, respectively.

Founded in 1993 under the visionary leadership of the late Shri S.P. Hinduja and his three brothers, IIHL is an investment holding Company well-regulated by the Financial Services Commission, Mauritius, under a Global Business License and is governed by the Board of Directors. Its investment portfolio under various Regulatory jurisdictions comprises Banking Services (IndusInd Bank, IIHL Bank & Trust Limited- Bahamas), Capital Market Assets (Afrinex Exchange Limited, Mauritius, with a cumulative listing of $13.5bn of underlying securities). Recently, it acquired the Insurance Businesses (Life, Non-Life, and Health) along with the Securities business of Reliance Capital Ltd to augment its portfolio.

IAMI began operations in India in late 2008 with the acquisition of Lotus India Asset Management Company and has since grown to serve over 2.9. million retail investor folios and over 48,000 empanelled distributors, with over 70% of its AUM in equity and equity-oriented assets. Invesco also operates an enterprise centre in Hyderabad employing more than 1,700 staff across a range of global support functions, including information technology, investment operations, finance, compliance, and human resources.

About IndusInd International Holdings Limited (www.indusindinternational.com)

Originally versed in the banking sector, IndusInd has, over the years, invested in a wide range of financial services across several jurisdictions. With a USD 1.2 bn net asset value as of September 2025, IIHL is dedicated to value creation for its global shareholders by maintaining this dynamic growth through ongoing investment and acquisition of high-value assets. IIHL’s vision is to be a Global Financial Services Institution with a commitment to excellence in international orientation, innovation, speed, and strict compliance with the principles of good corporate governance.

About Invesco Asset Management (India) Private Limited

Invesco Asset Management (India) is one of the leading asset management companies in India. With over INR 148,358 crores of average assets under management for the quarter ending September 2025 across Mutual funds, PMS and Offshore Advisory, we serve the investment needs of individual investors, corporates and institutions through mutual funds and sub-advised portfolios. Our expertise extends across equity, fixed income and alternative asset classes, where we offer the complete range of funds designed to suit investment needs. IAMI’s aim is to provide top-class financial care, impeccable service and best-in-class investment products. For more details, visit: www.invescomutualfund.com

About Invesco Ltd.

Invesco Ltd. (NYSE: IVZ) is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. With offices in more than 20 countries, our distinctive investment teams deliver a comprehensive range of active, passive and alternative investment capabilities. For more information, visit www.invesco.com/corporate

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Global Investing: What Are the Benefits and How Can You Do It?

Global investing refers to the practice of diversifying your portfolio by incorporating assets from various countries and markets around the world. This approach not only taps into different economic dynamics but also offers exposure to emerging markets and technological advancements. With the world economy showing signs of gradual recovery and moderating inflation, global investing can capitalise on these trends to potentially enhance returns and reduce risk​.

But what are some examples of global investments? What are the benefits of adding these to your portfolio and what are some of the ways you can do this? Read on to find out more.

What are global investments?

Global investments encompass a range of asset classes including stocks, bonds, real estate and more, across international boundaries. This includes investing in developed markets such as the USA and Europe, as well as emerging markets like Asia and Latin America. By investing globally, individuals and institutions can participate in growth opportunities worldwide, beyond their domestic economies​.

The benefits: Using diversification and volatility to your advantage

Diversifying your investment portfolio globally helps to spread risk. Different markets and regions react differently to economic events, which can help to stabilise your returns. For instance, when one market is experiencing a dip, another might be performing well, balancing the overall performance of your portfolio. Providers like Tradu offer the opportunity to trade multiple asset classes from one platform, simplifying diversification by removing the need for multiple accounts for different markets.

And while sometimes viewed negatively, volatility in global markets can provide opportunities for savvy investors to buy assets at lower prices. Drops may allow you to enter a market at a more favourable valuation, potentially increasing your returns as markets recover​. Of course, the nature of volatility means that it can work against you as well, which is where diversification can help to mitigate your losses.

Investing in growing markets and global index funds

Emerging markets, such as those in Asia and Africa, often offer higher growth potential compared to developed markets. These regions frequently benefit from younger demographics, rapid urbanisation and increasing consumer spending, which can drive growth in various sectors including technology, consumer goods and infrastructure​.

And for those new to investing, global index funds offer a straightforward way to gain exposure to international markets. These funds track global indexes, which represent the performance of a basket of international stocks. Investing in these funds provides an easy and diversified entry point into global markets, with the added benefit of professional management and lower transaction costs.

Global investing not only broadens your horizons but also helps mitigate risk through diversification and provides potential for higher returns from emerging markets. By understanding and leveraging these benefits, you can enhance your portfolio and achieve a more robust financial future.

Mumbai-based TruBoard Partners Enters Strategic Partnership with Norway’s Bazefield to Enhance Renewable Asset Management Tech

Bazefield's Monitoring and Analytics platform to be integrated with TruBoard Partners' Asset Management solution suite, enabling the latter’s energy clients to gain unprecedented insights into their operations

This collaboration marks a major milestone for both firms in their shared mission to revolutionize energy management through advanced data analytics

Mumbai-based TruBoard Partners, a leading independent asset management company for renewable assets in India has announced a significant partnership with Norway’s Bazefield. As per this partnership, Bazefield's Monitoring and Analytics platform will be integrated with TruBoard Partners' Asset Management solution suite, which will enable the latter’s energy clients to gain unprecedented insights into their operations. This integration will ensure data-driven decision-making, driving greater efficiency, productivity, and sustainability.

Bazefield is a Norwegian provider of the global market's fastest-growing and most comprehensive off-the-shelf renewable energy asset management system. With its cutting-edge capabilities including machine learning-based advanced analytics, Bazefield empowers energy companies to efficiently manage, monitor, and optimize renewable energy assets in all regions across the globe.

TruBoard Partners with its state-of-the-art Real Asset Management Services (RAMS) module enables renewable energy companies to streamline operations, enhance efficiency, and drive sustainable growth. Their bouquet of services includes Technical Asset Management, Commercial Management, Plant Supervision, Plant Operations, Financial Management, Secretarial Management, Engineering, and Analytics.

This partnership begins with Bazefield monitoring over 950 MWp of Solar PV portfolio in collaboration with TruBoard Partners RAMS module.

"This collaboration with TruBoard Partners allows us to further expand the reach of Bazefield’s asset management system and provide energy companies with unparalleled insights and control over their renewable energy assets. Together, we will drive the digital transformation of industry and accelerate the adoption of sustainable energy solutions worldwide. Thanks to the entire TruBoard team, Mr. Rakesh Kalsi, Mr. Saiyam Goyal for enabling this unique industry collaboration,” said Sigurd Juvik, CEO of Bazefield.

Rakesh Kalsi, Managing Director- Infrastructure Solutions at TruBoard Partners, said, "This collaboration aligns perfectly with our commitment to providing clients with the most advanced Asset Management solutions across clean energy space covering Wind, Solar, Storage, and EV. By integrating Bazefield's robust EnOS Bazefield with our suite of products, we empower energy companies to unlock the true potential of their data, optimize their operations, and confidently navigate the dynamic energy landscape.”

Bazefield’s asset management system EnOS Bazefield is the fastest-growing, most comprehensive, and most flexible asset management solution in the global market. It is currently deployed across over 1,800 sites, covering over 110 GW of renewable energy installations worldwide. With its cutting-edge capabilities including machine learning-based advanced analytics, Bazefield empowers energy companies to efficiently manage, monitor, and optimize renewable energy assets in all regions across the globe.

TruBoard Partners and Bazefield are dedicated to delivering exceptional value to their clients and fostering innovation within the energy industry. This partnership represents a significant stride towards their shared vision of providing comprehensive, end-to-end solutions that empower energy companies to thrive in a rapidly changing market.

About TruBoard Partners:

TruBoard Partners, established in 2020, is India's pioneering independent sector-agnostic asset performance management company. With a diverse portfolio encompassing infrastructure, renewable energy, real estate, financial services, technical services, and retail loans, TruBoard currently manages assets worth $1.8 Bn. Its innovative platform leverages data and AI to optimize portfolio returns, providing a 360-degree view of investments and fostering superior decision-making capabilities. TruBoard's 'PhyGital approach' combines data-driven products with last-mile execution with feet on street, revolutionizing the pre and post-investment performance cycle and driving growth for capital providers.

About Bazefield:

Bazefield is the fastest-growing and most comprehensive off-the-shelf renewable energy system in the global market. With its flagship product, EnOS Bazefield, deployed across over 1,800 sites and more than 100 GW of renewable energy installations worldwide, Bazefield empowers energy companies to efficiently manage, monitor, and optimize their renewable energy assets across all regions.

Jio Financial Services and BlackRock Form JV to Enter India’s Asset Management Space with Digital-First Approach

• Jio BlackRock combines Jio Financial Services’ knowledge and resources and BlackRock’s scale and investment expertise to deliver affordable, innovative investment solutions to millions of investors in India.
• Partnership aims to transform India’s asset management industry through a digital-first offering and democratise access to investment solutions for investors in India.

Jio Financial Services Limited (JFS) and BlackRock [NYSE: BLK] today announced an agreement to form Jio BlackRock, a 50:50 joint venture that combines the respective strengths and trusted brands of BlackRock and JFS to deliver tech-enabled access to affordable, innovative investment solutions for millions of investors in India.

Jio BlackRock brings BlackRock’s deep expertise and talent in investment management, risk management, product excellence, access to technology, operations, scale, and intellectual capital around markets, while JFS contributes local market knowledge, digital infrastructure capabilities and robust execution capabilities. Together, the partnership will introduce a new player to the India market with a unique combination of scope, scale, and resources. JFS and BlackRock are targeting initial investment of US$150 million each in the joint venture.

Rachel Lord, Chair & Head of APAC, BlackRock, said: “India represents an enormously important opportunity. The convergence of rising affluence, favourable demographics, and digital transformation across industries is reshaping the market in incredible ways.

We are very excited to be partnering with JFS to revolutionise India’s asset management industry and transform financial futures. Jio BlackRock will place the combined strength and scale of both of our companies in the hands of millions of investors in India.”

Speaking on this transaction, Mr Hitesh Sethia, President and CEO, JFS, said: “This is an exciting partnership between JFS and BlackRock, one of the largest and most respected asset management companies globally. The partnership will leverage BlackRock’s deep expertise in investment and risk management along with the technology capability and deep market expertise of JFS to drive digital delivery of products.

Jio BlackRock will be a truly transformational, customer centric and digital-first enterprise with the vision to democratise access to financial investment solutions and deliver financial well-being to the doorstep of every Indian.”

The joint venture will launch operations post receipt of regulatory and statutory approvals. The company will have its own management team.

About BlackRock

BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate.

About BlackRock India

BlackRock India is at the very heart of our global operating platform, enabling us to innovate our business to benefit clients. Over the past 17 years, our India platform has grown to over 2,400 employees across offices in Mumbai, Gurgaon, and Bangalore powering our global network by employing talents across investments, alternatives, operations, analytics and modelling, and corporate functions.

About Jio Financial Services Limited

Jio Financial Services Limited (JFS) through its operating subsidiaries and joint ventures will offer broad range of financial services solutions addressing the needs of both consumers and merchants. JFS will use technology as a key enabler to reach customers directly.

IVCA Launches #VC101 Learning Programme for First-Time Fund Managers

The programme aims to help build an empowered, engaged, and experienced generation of PE/VC fund managers in India.

India’s apex industry body for alternative assets, the Indian Venture and Alternate Capital Association (IVCA), today launched a one-of-a-kind learning and knowledge-sharing programme on fund management - #VC101, for emerging venture fund managers. It is one among several initiatives by IVCA to strengthen the environment for venture capital in India and push India as the leading fund management hub in the world.

In India, the private financing market has emerged as a strong wall of support for the homegrown startup ecosystem. The recent Bain & Co.- IVCA report suggests that Micro VCs (MVCs) became significantly more present across the landscape in 2022 with the base of active MVCs growing from 65 to 80+ over 2021–22. Micro VCs and domestic funds and other small funds (CVCs, family offices, and new funds) also accounted for a salient share of investments in 2022. As more limited partners and family offices look to invest in alternatives viz-a-viz public equity, the sector is on the road to witness an explosion in venture-backed companies. In continuation of this trend and with alternative investment funds growing at an annual rate of 20% over the past decade in India, the meteoric rise of micro-VCs (with an active fund size of less than USD 30 Mn) and first-time fund managers has been inevitable.

"The growth of entrepreneurship in India has been accompanied by the rise of PE-VC, both of which have contributed substantially to the country’s rapid economic progress. IVCA’s #VC101 Series, with sessions led by seasoned venture capital investors, should be of great value to budding venture capitalists in India” said Rajan Anandan, MD, Sequoia India & Southeast Asia, and Surge & Chair, VC Council, IVCA.

The exponential growth of the industry, thus, necessitates proactive attempts to build an empowered, engaged, and experienced class of venture fund managers. Presently, in India, the trend is that most venture funds are led by new, first-time, emerging fund managers who find key activities such as raising capital, networking with limited partners, and building a team challenging in the formative years of the fund. Accordingly, #VC101 is an exclusive learning and development programme curated for first-time fund managers, micro-VCs, and active/new family offices by seasoned fund managers from IVCA’s VC Sector Council Members, who have raised multiple funds, have enabled exits and now wish to give it back to the ecosystem. It will feature sessions by industry veterans - GPs, Knowledge Partners, Limited Partners, Government leads, etc. by equipping emerging players with the knowledge to tackle the unique challenges faced by this alternate asset class. Participants will get the opportunity to receive mentorship from and network with limited partners, leading general partners, family offices, and Government of India officials.

Rahul Khanna, Co-Founder and Managing Partner, Trifecta Capital, and Co-Chair, VC Council, IVCA, remarked, “The process of evaluating and investing may be daunting for new Fund Managers as they are expected to identify and take a call on companies with great potential which also involves significant risk. However, by employing the appropriate strategies, it can be a very disciplined and effective process. The #VC101 programme looks to help Fund Managers build both financial and operational strength. By sharing the best practices in PE-VC investing by seasoned practitioners and industry experts, the programme will accelerate the development and maturation of the venture capital asset class in India.”

#VC101 will be a month-long, on-ground programme spanning three fortnights in the month of June. The programme is divided into three modules with in-person learning sessions in each of the city – Mumbai, Bengaluru and New Delhi. Specifically, the programme will discuss fundraising, formation and portfolio management fund strategy, raising, and firm building; fund setup and deployment; and portfolio management, governance, exits, returns, n+1 fund strategy and much more. The following industry veterans and experts of IVCA’s Venture Capital Council will mentor the participating fund managers: Rajan Anandan (Managing Director, Surge & Sequoia Capital India LLP), Rahul Khanna (Co-Founder and Managing Partner, Trifecta Capital), Manish Kheterpal (Founder & Managing Partner, WaterBridge Ventures), Ruchi Khajanchi (Chief Financial Officer, A91 Partners), Priyanka Chopra (Chief Operating Officer, Managing Partner, Seed Investing, CIIE.CO, IIM Ahmedabad, & Venture Partner, Bharat Innovation Fund), Anil Joshi (Managing Partner, Unicorn India Ventures), Sameer Brij Verma (Managing Director, Nexus Partners), and Sehraj Singh (Managing Director, India, Prosus Ventures).

About IVCA

Indian Venture and Alternate Capital Association (IVCA) is a not-for-profit, apex industry body promoting the alternate capital industry and fostering a vibrant investing ecosystem in India. IVCA is committed to supporting the ecosystem by facilitating advocacy discussions with the Government of India, policymakers, and regulators, resulting in the rise of entrepreneurial activity, innovation, and job creation in India and contributing towards the development of India as a leading fund management hub. IVCA members are the most active domestic and global VCs, PEs, funds for infrastructure, real estate, credit funds, limited partners, investment companies, family offices, corporate VCs, and knowledge partners. These funds invest in emerging companies, venture growth, buyout, special situations, distressed assets, and credit and venture debt, among others.

Rockstud Capital forays into Portfolio Management Services

Abhishek Agarwal Founder and Managing Partner- Rockstud Capital

• Rockstud Capital has received approval from SEBI for offering Portfolio Management services (PMS)
• Rockstud Capital Yuva Bharat portfolio is an open-ended Scheme with focus on Mid and Small market capitalisation stocks.
• Rockstud Capital Yuva Bharat theme is positioned to ride the India’s economic growth which is at inflection point to reach $8tn by FY2030 by investing in sectors contributing towards it.

Rockstud Capital, a leading alternative asset management firm, announced its foray into Portfolio Management Services. The firm will launch its core equity strategy called Rockstud Capital Yuva Bharat an open-ended concentrated PMS Portfolio with a focus on Mid and Small market cap.

The Fund aims to invest in companies based on the theme of India’s GDP growth contributing to rising middle-class income, consumption and digital wave to cater the aspirational set of population by identifying and investing in those high growth sectors.

The fund will be managed by a dedicated team with more than a three-decade of experience and will leverage its successful track record of Rockstud Capital Investment Fund – Series I hybrid equity venture capital fund, where few of the investments had generated multi-baggers returns over ~5x.

It has received the final license from the SEBI to start its PMS business operations. The move will give a fillip to the group’s ambitions to become a full-service alternative asset management firm. The firm will be committed to creating long-term wealth for its customers by consistently delivering superior returns through disciplined approach and applying proprietary filters in its research and portfolio management.

Speaking on the development Abhishek Agarwal, Founder and Managing Partner of Rockstud Capital, said, “The Indian alternative asset management landscape will see massive growth in the years to come and Rockstud Capital is very well positioned to take advantage of that. Our aim is to offer a fresh approach to Portfolio Management Services. The plan is to put our clients first by providing a transparent service, designed around what is right for them while ensuring that their capital is managed prudently. We are proud to launch our PMS business and are confident that our team of experienced professionals will help us to fulfil our mission of providing our clients with access to the best alternative investments available. The Indian economy is on the cusp of a unique growth story and the number of wealthy Indians is on the ascent. This makes PMS business an inevitable opportunity for us to add to our business lines.”

About Rockstud Capital

Rockstud Capital is a leading alternative asset manager advising and managing funds across our SEBI registered schemes including CAT-II Venture Capital Hybrid AIF fund, CAT I – AIF Angel Fund and Portfolio management services (PMS).

The core values of our organization are customer first approach, performance-oriented strategy and demonstrate highest transparency. Our team has wide range domain expertise on various roles required to manage complex strategies and be compliant as per regulations.

The firm has successful track record of generating returns from the hybrid fund and many multibaggers stocks in the portfolio ranging 3 – 5x. The firm focuses on long term investment goals through diversified portfolio allocation and mitigate risk by bring differentiated strategies to their investors.

Edelweiss Asset Management Company Partners with Signzy for Digital Customer Onboarding and Verification

Edelweiss Asset Management Company, one of the fastest growing AMCs, today announced that it has partnered with India’s leading RegTech startup (which manages regulatory processes in the BFSI sector through technology) Signzy for digital customer onboarding and a faster verification process on its investment platform.

Under this partnership, Signzy’s AI-led e-KYC solution has been deployed to allow all new Edelweiss customers to conduct seamless digital KYC, biometric enabled digital contracts and due diligence through Algorithmic Risk Intelligence for their mutual fund investments.

Ankit Ratan, co-founder of Signzy, says, “We are thrilled to be chosen by Edelweiss to support their new customer onboarding using Signzy’s industry-leading e-KYC solution. For the BFSI industry, new customer onboarding can involve significant time and cost expenditure. Our e-KYC solution is designed to mitigate these costs while simultaneously delivering much superior customer experience, which allows our clients to grow their business through frictionless new customer onboarding.”

Radhika Gupta, CEO, Edelweiss Asset Management, said, “Despite heightened interest from investors who are new to Mutual Funds, the cumbersome offline process of KYC becomes a barrier in on-boarding potential investors. Signzy’s eKYC solution and our digital processes overcomes this challenge, it helps investors to complete their KYC online and immediately invest in our Mutual Funds from comfort of their home. This facility offers new investors a platform with compliant processes, quick on-boarding and a happy investing experience; thereby also significantly reducing our costs.”

The partnership with Singzy will also help Edelweiss AMC to reach a wider set of customers because of its ease of access to the mutual fund platform, and work towards deepening the market for mutual funds in India.

About Signzy Mumbai-based Signzy is a leading provider of AI-based digitalization and automation solutions to the BFSI industry and counts globally leading banks and NBFCs (Non-Banking Financial Companies) as its clients, including Mastercard, ICICI Bank, State Bank of India and many more.

About Edelweiss Asset Management Limited (EAML): EAML is amongst the fastest growing asset management companies, being an asset management subsidiary of Edelweiss Financial Services Ltd., one of India’s leading financial services group since last 21 years with a proven track record of quality and innovation. EAML has witnessed growth of over 46% in Average Assets under Management (AAUM) in last one year.