IndusInd International Holdings and Invesco JV for Mutual Fund Business Commences Operations

IndusInd International Holdings Ltd (IIHL), part of the Hinduja Group, has finalised its joint venture with US-based Invesco Ltd by acquiring a 60% stake in Invesco Asset Management India, establishing a new partnership aimed at expanding investment access and distribution across India.

Joint Venture and Strategic Synergies

With all approvals now secured, IIHL becomes the majority stakeholder, while Invesco retains 40% and continues as a joint sponsor. The newly structured entity, Invesco Asset Management India (IAMI), currently ranks as India’s 16th largest asset manager with an average AUM of ₹1,48,358 crore as of September 2025. 

It operates across 40 cities, supported by more than 11,000 touchpoints and a customer base exceeding 45 million, which IIHL aims to expand by another 50 million through global affiliates.

Operational Continuity and Market Expansion

IAMI will continue under its current management led by Saurabh Nanavati, maintaining its research-driven investment philosophy and client service focus. Nanavati said, noting that the company plans to scale offerings through GIFT City, passive funds, and digital platforms.

Echoing this vision, Andrew Lo, CEO of Invesco Asia Pacific, said the partnership will further expand distribution capabilities in the domestic market, while keeping a sharp focus on delivering industry-leading investment products. 

The JV builds on IAMI’s strong retail base of 2.9 million investor folios and 48,000 empanelled distributors, with over 70% of its AUM invested in equity and equity-oriented assets.

Read More: SEBI Proposes Overhaul of Mutual Fund Expense: What You Need to Know!

Conclusion

The IIHL–Invesco joint venture marks a pivotal shift in India’s asset management landscape, blending global expertise with local reach to deliver diverse, high-quality investment solutions for a rapidly expanding investor base.

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