BlackRock exits India mutual fund business
World's largest asset manager BlackRock has agreed to sell its 40% stake in DSP BlackRock to joint venture partner DSP Group, marking its exit from Indian mutual fund sector. While the details of the deal were not disclosed, reports said DSP BlackRock is valued at around â¹5,000 crore. It had average assets under management of â¹86,000 crore as of March.