IIHL and Invesco Finalize Joint Venture in Indian Asset Management Market
IndusInd International Holdings Limited (IIHL) and Invesco have completed their joint venture in India’s mutual fund industry, with IIHL acquiring a 60% stake and Invesco holding 40%. The JV combines Invesco’s global investment expertise with IIHL’s extensive domestic distribution network, aiming to expand mutual fund reach and advance financial inclusion in India. As of September 2025, the JV manages assets worth INR 148,358 crore across 40 cities.
IndusInd International Holdings Limited (IIHL), the promoter of IndusInd Bank, and Invesco Ltd. have completed the formation of a joint venture in India’s asset management sector after IIHL acquired a 60% stake in Invesco Asset Management India (IAMI), while Invesco retains 40%. Both IIHL and Invesco now serve as joint sponsors under Indian regulatory frameworks. As of September 2025, the JV is the 16th largest domestic asset manager in India, managing average assets under management (AUM) of INR 148,358 crore for the quarter ending September 2025, with presence in 40 cities nationwide. The partnership leverages Invesco’s global investment expertise and diverse product range alongside IIHL’s wide distribution network, which includes over 11,000 touchpoints serving 45 million customers. Additionally, IIHL plans to utilize the customer reach of its global shareholders’ associate entities to expand the base by another 50 million. Invesco also operates a significant enterprise center in Hyderabad with over 1,700 employees across functions including IT, finance, compliance, and HR. The joint venture aims to capitalize on the fast-growing asset management market in India by combining global competence with robust domestic presence to enhance mutual fund penetration and accelerate financial inclusion across the country.
