IIFL Mutual Fund is a Trust settled by India Infoline Limited (‘Settler’), which has entrusted a sum of Rs. 1, 00,000 to the Trustee, as the initial contribution towards corpus of the Mutual Fund.
In order to integrate the Fund Management Business and Asset Management Business, the entire equity shareholding of IIFL Asset Management Limited (Formerly known as India Infoline Asset Management Company Limited) (Investment Manager to IIFL Mutual Fund – ‘IIFL AMC’) and IIFL Trustee Limited (Formerly known as India Infoline Trustee Company Limited - Trustee to IIFL Mutual Fund – ‘IIFL Trustee’) held by India Infoline Limited was transferred to its subsidiary IIFL Wealth Management Limited (IIFL Wealth), on October 18, 2013. Accordingly, IIFL Wealth holds the entire share capital of IIFL AMC and IIFL Trustee and acts as Sponsor to IIFL Mutual Fund. The said restructuring was within the IIFL Group, effected pursuant to SEBI NOC letter dated October 17, 2013 and did not amount to any change in controlling interest of IIFL AMC. The registered office of IIFL Wealth is at IIFL House, Sun Infotech Park, Road No. 16V, Plot No. B-23, MIDC, Thane Industrial Area, Wagle Estate, Thane – 400 604.
Brief Profile of IIFL Wealth (Sponsor)
IIFL Wealth was incorporated on 17th January 2008 and it obtained its PMS licence from SEBI on May 13, 2008, and over last five years, it has provided management and advisory services to the individuals, firms, associations, institutions, corporate and also provide complete range of financial services. As on September 30, 2013, the total assets under management were more than Rs. 9,400 Crore, under PMS activity.
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