Daiwa Mutual Fund
Daiwa Mutual Fund
Introduction
Daiwa Mutual Fund, which operated in India as Daiwa Asset Management (India) Private Limited, was a subsidiary of Japan's second-largest brokerage, Daiwa Securities Group. Daiwa's presence in the Indian mutual fund market began after it acquired Shinsei Mutual Fund in 2011, subsequently rebranding it as Daiwa Mutual Fund. However, due to a highly competitive environment, regulatory uncertainties, and declining assets under management, Daiwa Securities Group decided to scale down its Indian mutual fund operations.
In June 2013, SBI Mutual Fund, one of India's largest and oldest mutual fund houses (a joint venture between State Bank of India and Amundi), announced the acquisition of all existing India-domiciled fund schemes of Daiwa Mutual Fund. This transaction received regulatory approvals, and the integration was completed by November 2013, with Daiwa's schemes being merged into or renamed under SBI Mutual Fund's umbrella.
Therefore, Daiwa Mutual Fund does not exist as an independent entity managing funds in India today. Its legacy and investor base were absorbed into SBI Mutual Fund.
Fund Managers
Since Daiwa Mutual Fund's schemes were acquired by SBI Mutual Fund, there are no active fund managers directly employed by "Daiwa Mutual Fund" in India. The erstwhile schemes of Daiwa Mutual Fund are now managed by the fund management team of SBI Mutual Fund. For instance, some schemes were renamed and continue to be managed by SBI Mutual Fund's managers at the time of the merger (e.g., Daiwa Industrial Leaders Fund became SBI Small & Midcap Fund and was managed by R. Srinivasan).
To understand the fund managers, one would need to refer to the SBI Mutual Fund management team, which includes individuals like Mr. Dinesh Ahuja (Fixed Income) and Mr. R. Srinivasan (Equity), among others.
Scope and Investment Philosophy
The original scope and investment philosophy of Daiwa Mutual Fund, as a part of Daiwa Asset Management, primarily focused on providing a range of mutual fund products including equity, bond, and money market funds. Their global approach emphasized disciplined investment processes and leveraging their extensive research capabilities.
However, since the acquisition by SBI Mutual Fund, the investment philosophy and scope applicable to the former Daiwa schemes are now that of SBI Mutual Fund. SBI Mutual Fund, being a large and diversified AMC, has a broad investment philosophy that covers:
- Diverse Product Offerings: A wide range of equity, debt, hybrid, solution-oriented, and passive schemes.
- Robust Research: Strong in-house research teams for both equity and fixed income.
- Disciplined Processes: Adherence to structured investment processes for stock selection, portfolio construction, and risk management.
- Long-Term Wealth Creation: A focus on generating sustainable long-term wealth for investors.
- Prudent Risk Management: Emphasis on managing various risks (market, credit, interest rate) across its portfolios.
Part 2: List of Funds with Brief Explanation
As Daiwa Mutual Fund's schemes were acquired by SBI Mutual Fund and subsequently renamed or merged, there are no funds currently listed under the "Daiwa Mutual Fund" brand.
The schemes that were part of Daiwa Mutual Fund at the time of acquisition in 2013 were, for example:
- Daiwa Industrial Leaders Fund: This was an equity fund, likely with a focus on large-cap or diversified equity. It was renamed SBI Small & Midcap Fund.
- Daiwa Treasury Advantage Fund: This was a debt fund. It was renamed SBI Treasury Advantage Fund.
- Daiwa Government Securities Fund - Short Term Plan: This was a debt gilt fund. It was renamed SBI Benchmark G Sec Fund.
- Daiwa Liquid Fund: This was a liquid debt fund. It was merged into SBI Magnum Instacash Fund - Liquid Floater Plan.
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