South Africa's Sanlam Makes Strategic Investment in Shriram AMC

South Africa's prominent asset manager Sanlam has made a substantial investment of Rs 105 crore to acquire a 23 percent stake in Shriram Group's asset management arm.

This strategic move marks Sanlam's foray into the Indian market, boasting over USD 80 billion under management and building upon its two-decade partnership with the Chennai-based diversified financial services group.

The capital infusion will bolster Shriram AMC's capabilities, enhancing investment processes and expanding offerings, while the overall promoter stake in the company rises to 71.17 percent. This development highlights India's growing allure for global asset managers, with Sanlam leading the charge.

(With inputs from agencies.)