BlackRock exits mutual fund business in India with 40% stake sale

BlackRock exits mutual fund business in India with 40% stake sale

FILE PHOTO: The BlackRock logo is seen at the BlackRock Japan headquarters in Tokyo, Japan, October 20, 2016. REUTERS/Toru Hanai/File Photo

BlackRock Inc., the world’s largest asset manager, said on Monday it will sell its 40% stake in DSP BlackRock Investment Managers Pvt. Ltd to joint venture partner DSP Group, marking the exit of yet another foreign asset manager from the Indian mutual fund industry.

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