T. Rowe Price to Acquire 28% stake in India’s UTI Asset Management
| November 13th, 2009 | ||
| T. Rowe Price(NASDAQ: TROW) announced on November 9th that it was acquiring a 28% in UTI Asset Management Company Limited and UTI Trustee Company Pvt. Ltd. for approximately $138 Million. UTI is the one of the largest asset managers in India and has approximately $17.2 Billion in assets under management. UTI controls more than 10 percent of the market share of mutual funds in India and has more than 9.75 million accounts that span from fixed income to equity mutual fund strategies. T. Rowe Price hopes to use the partnership with UTI to further expand its global investment abilities, which have seen considerable expansion over the past decade. | ||
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Investment Management and Hedge Fund Firm Mergers, Acquisitions, Spin-offs and Transactions
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