Principal Financial Group on WebNotes

Principal Mutual Fund (historical)

Mon, 18 May 2026 00:00:00 +0000

Principal Mutual Fund was the Indian asset management subsidiary of Principal Financial Group (the US-based financial services firm), operationalised in 1994 as one of the early foreign-asset-manager-sponsored AMCs to enter the Indian mutual fund market. The AMC operated under the Principal Mutual Fund brand through 2021, when Principal Financial Group sold the AMC to Sundaram Asset Management . Following the 2021 transaction, the Principal Mutual Fund schemes were merged into the Sundaram Mutual Fund operation, and the Principal Mutual Fund brand ceased to exist as a standalone entity.

Sundaram acquisition of Principal Mutual Fund (2021)

Tue, 12 May 2026 00:00:00 +0000

The Sundaram Asset Management Company acquisition of Principal Asset Management (India) Private Limited in 2021 represented the exit of the US-headquartered Principal Financial Group from its Indian mutual fund joint venture and the absorption of its approximately Rs 6,800 crore AUM into the Sundaram Mutual Fund franchise. The acquisition, announced in April 2021 and completed later that year, was one of several AMC consolidation transactions in the 2019 to 2022 wave that reshaped the composition of the Indian asset management landscape by eliminating sub-scale standalone AMC entities.