BNP Mutual Fund ceases to exist as a mutual fund, capital markets regulator Sebi said on Wednesday. This comes after BNP Paribas Asset Management Company Private Limited (BNPP AMC) informed Sebi that it wants to surrender the registration granted to BNP Paribas Mutual Fund by the market regulator pursuant to change in control.
Last month, Bank of Baroda and BNP Paribas Asset Management had announced that they have entered into a strategic partnership by combining the strengths of their respective asset management businesses to form ‘Baroda BNP Paribas Mutual Fund’.