Canbank Investment Management Services Ltd. (the AMC) was established as a wholly owned subsidiary of Canara Bank in 1993. The AMC is managing the assets of Can bank Mutual Fund (the Fund) by virtue of an investment management agreement dated 16th June 1993 (as amended from time to time).
Canara Bank entered into a joint venture agreement on 19th March, 2007, with Robeco Groep N.V. 120 Coolsingel, 3011 AG Rotterdam, The Netherlands for asset management business in India. Robeco is a 75-year old asset manager, with over Rs. 8,09,000 crores ( EUR 146 billion) under management as of Dec 31, 2007.
Fund is renamed as Canara Robeco Mutual Fund (the Fund) and the AMC as Canara Robeco Asset Management Company Limited (the AMC).
The AMC is also the sub-Investment Manager to IS-Himalayan Fund / Canbank (Offshore) Mutual Fund.
The Fund launched thirty schemes since its inception, besides taking over four schemes from GIC Mutual Fund. Of these, sixteen schemes have been redeemed / terminated / merged so far. The AMC now manages eighteen schemes of which fifteen are open-ended and three are close-ended
As on 30.10.2009, the assets under management stood at Rs. 7815.00 Crore.
Mr. Rajnish Narula Chief Executive Officer
25 years of experience in financial sector. Senior Management positions in Grindlays Bank and Standard Chartered Bank (Oct. 1982 to Sept. 2003). Chief Executive Officer, Alliance Capital (Sept.2003 – Dec.2005). Chief Executive Officer, DBS Cholamandalam Asset Management Ltd. (Jun. 2006 to Jun. 2007)
Mr. Paul Vrancken Chief Operating Officer
11 years experience in financial sector. Till May 2001 as Senior Advisor, Arthur Andersen Corporate Finance, Amsterdam. Vice President, Strategy and M & A, Robeco Groep N V, Rotterdam from Jun. 2001 till date