“Our vision is to be the wealth creator for every Indian. Now being part of a bigger and stronger entity, I am sure we will be able to realise that vision,” says Navneet Munot, MD & CEO, HDFC AMC
What will the merger of HDFC with HDFC Bank mean for HDFC AMC?
We will be part of a much bigger entity which will be the HDFC Bank along with the HDFC Ltd with a much wider distribution network and in our last annual general meeting, our chairman Mr Parekh mentioned that the mutual fund industry is poised for exponential growth. At HDFC AMC, our vision is to be the wealth creator for every Indian. Now being part of a bigger and stronger entity, I am sure we will be able to realise that vision.
In terms of financials is there going to be any change now since there is going to be a merger with the holding company first? Will there be any impact?
No, not really. Our ownership is with HDFC Ltd which will be a part of the merged entity later.
In terms of customers, this change needs to be communicated because that is the parent holding. What is your plan for that?
Of course, I think the merger process will go on for the next 15 to 18 months and of course our customers will be very happy to be part of this bigger and stronger entity.
This merger is still to take place, it will take 18-24 months. In the meantime, what is your strategy for communication with customers?
Nothing changes for us. Our customers have seen HDFC AMC over the last 20 years with a great track record and I think that continues.
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