BAML – Baroda Asset Management India Limited is the investment manager of Baroda Mutual Funds, is a wholly-owned subsidiary of Bank of Baroda. It is positioned to serve the varied asset management needs of investors in India through a range of equity, debt and money market offerings.
The Baroda Asset Management India Ltd. was established back in 1992. It is a wholly-owned subsidiary of Bank of Baroda. The primary focus of the AMC is to enhance the overall customer experience; along with that the AMC also works towards:
In the year 2008, Pioneer Global Asset Management SpA (“PGAM”) acquired 51% stake in the AMC. It was then renamed as Baroda Pioneer Asset Management Company Ltd. and PGAM became a co-sponsor of this Mutual Fund. In June 2008, the joint venture had Rs. 30 crores in AAuM which later grew to Rs. 12,159 crores till November 2018. The AMC continues to thrive in its path of success as it grew to become a serious player in the mutual fund industry.
Pioneer Investments, which had been the sponsor of the fund for 10 years, has moved out of the joint venture owing to their merger worldwide with another asset management company. Now, Bank of Baroda, India’s 2nd largest PSU Bank has become the sole sponsor for the Mutual Fund.
On September 28, 2018, Bank of Baroda acquired the entire shareholding of UniCredit S.p.A. (formerly PGAM, which merged into its holding company, i.e. UniCredit S.p.A. from November 1, 2017) held in the AMC and Baroda Pioneer Trustee Company Private Limited. Also, the names of the AMC and Trustee have been changed to Baroda Asset Management India Limited and Baroda Trustee India Private Limited respectively, and the Mutual Fund has been renamed to Baroda Mutual Fund.
As of March 2022, the AMC handles assets worth Rs. 9641.09 crores.