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IIHL acquires 60% stake in Invesco Asset Management India; Invesco retains 40% shareholding
Mumbai: IndusInd International Holdings Ltd (IIHL), part of the Hinduja Group, and US-based global investment management firm Invesco Ltd have officially made their mutual fund joint venture operational, marking a significant development in India’s rapidly expanding asset management landscape.
The move follows IIHL’s completion of the acquisition of a 60% stake in Invesco Asset Management India (IAMI) and the receipt of necessary regulatory approvals. With the transaction now closed, Invesco will retain a 40% shareholding in the asset management company and will continue as a joint sponsor alongside IIHL, according to a joint statement issued by both companies.
Strengthening India’s Asset Management Industry
The partnership combines Invesco’s global investment expertise with IIHL’s strong distribution network and customer reach through its financial services ecosystem. This synergy aims to expand the accessibility of mutual fund products across India, including in smaller towns and semi-urban regions, where retail participation in financial markets continues to grow.
As of September 2025, Invesco Asset Management India ranked 16th among domestic asset managers, with a combined onshore and offshore average assets under management (AUM) of ₹1,48,358 crore for the quarter ended September 2025. The firm currently operates across 40 cities in India, serving over 2.9 million retail investor folios and supported by more than 48,000 distributors.
Leadership Continuity and Strategic Focus
The existing leadership team, led by CEO Saurabh Nanavati, will continue to manage day-to-day operations, ensuring business continuity and maintaining the company’s focus on investor trust and performance consistency.
The statement noted that the joint venture will retain its existing investment approach, governance framework, and risk management systems, ensuring that investors continue to benefit from the same discipline and transparency that have defined Invesco’s operations in India.
Under the new structure, Invesco will bring its product design and global investment capabilities, while IIHL will leverage its local distribution network, enabling the JV to reach a wider investor base and tap into the growing appetite for professionally managed investments among India’s middle class and HNI segments.
Leadership Speaks
Ashok Hinduja, Chairman of IIHL, said the partnership reinforces the group’s vision to strengthen its presence in financial services.
“This joint venture is an important step in our journey to expand in banking and financial services. With Invesco’s global expertise and IIHL’s strong customer base, we aim to deliver high-quality investment solutions to Indian investors,” he said.
Andrew Lo, CEO for Asia Pacific at Invesco, expressed optimism about the partnership’s potential.
“India is one of the fastest-growing markets for asset management. This collaboration enhances our distribution capabilities and allows us to reach a broader segment of investors,” he said.
Saurabh Nanavati, CEO of IAMI, emphasized the shared goal of expanding financial inclusion.
“Through this partnership, we will focus on deepening our presence across India, particularly in smaller cities, with a broader range of products tailored for evolving investor needs,” he said.
Background
Founded in 1993, IndusInd International Holdings Ltd is regulated by the Financial Services Commission, Mauritius, and holds investments across banking, capital markets, and insurance.
Invesco Asset Management India, established in 2008 after acquiring Lotus India AMC, has since built a strong retail and institutional client base. In addition to its Indian operations, Invesco runs an enterprise centre in Hyderabad that supports its global operations.
The operationalization of the JV marks a new phase in India’s mutual fund industry, combining global investment acumen with local market reach to create a stronger, more diversified asset management ecosystem.
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