Pioneer returns to India
The Unicredit unit enters into a joint venture agreement with Bank of Baroda, marking its return to India after a five-year absence.
Pioneer Investments, the fund-management arm of ItalyÆs biggest bank by assets UniCredit Group, has signed a joint venture agreement with state-run Bank of Baroda to set up an asset management company in India. This marks Pioneer InvestmentsÆ return to IndiaÆs fund management industry after nearly five years. Pioneer Investments, which manages around 238 billion euros in assets worldwide, will own a 51% stake in the joint venture while Bank of Baroda will hold the rest. The joint vent…
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