Tata MF in talks with Vanguard, Allianz to sell stake
Monday, March 6, 2017, 2:47 PM
Tata Asset Management Ltd is in talks to sell 26-49% in its mutual fund business, to a foreign strategic partner. The Tata group company has held discussions with some of the world’s largest fund managers, including US-based Vanguard Group and Germany’s Allianz SE. Tata Sons Ltd owns 67.91% in Tata Asset Management and the remaining stake is held by Tata Investment Corp. Ltd.