Religare Aegon gets nod to start mutual fund business
Friday, 26 September 2008, 22:40 IST
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New Delhi: Religare Aegon AMC, a joint venture between Dutch insurer Aegon and Indian financial services firm Religare Enterprises has received the Indian market regulator's nod to start fund operations in the country, the company announced Thursday. "The company has got an approval from Securities and Exchange Board of India (SEBI) to launch mutual fund business in the country. The country is looking at launching its first products by November this year for the Indian retail investor," the company said in a regulatory statement. "We will be shortly filing for both debt and equity products with the regulator," Saurabh Nanavati, Religare Aegon AMC said in the statement. "The AMC (asset management company) will have close to 15 operational branches in over 25 cities by March 29," Nanavati said.
Source: IANS
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