Sundaram Asset Management Company, which is 100% subsidiary of Sundaram Finance Limited has acquired 100% stake in Principal Mutual Fund House. The deal is said to have happened for a massive Rs 338.5 crores.

Principal AMC had close to Rs 7,000 crores of Assets under Management before getting acquired by Sundaram. They were reportedly ranked 25th in terms of size of AUM(Assets under Management). Their niche and specialized investment strategy in Equity Mutual Funds aided retail investors in their wealth creation journey. Principal Emerging Bluechip, which is managed by Ravi Gopalakrishnan, stands out as the top ranked performer in the Large and Midcap category of mutual funds since the fund's inception, which dates back to November of 2008.

Sundaram is one of the biggest players in Mutual Fund Industry, having more than Rs 30,000 Crores of AUM and boasts a stellar track record of more than 25 years in this Industry. Sundaram has played a key role in investing in theme based funds and has offered quality solutions in its long journey of investment management.

Both the fund houses have ensured that there will be smooth transition in the change of management. Investors need not be worried as a seamless transfer is already in process. The final approval from SEBI for the deal is said to be happen shortly.

Investors need not have to worry about their investments and schemes as the portfolios will be managed in the same way. Investors can reach out to their advisors if necessary.