Religare AEGON AMC gets SEBI nod to launch Mutual Fund business
Religare AEGON Asset Management Company, a joint venture between Religare and AEGON, has received the final regulatory approval from the Securities & Exchange Board of India to launch mutual fund business in the country.
By ET Online |
MUMBAI: Religare AEGON Asset Management Company, a joint venture between Religare and AEGON, has received the final regulatory approval from the Securities & Exchange Board of India to launch mutual fund business in the country. The AMC is planning to launch its first schemes by November ��� December.
���We will be shortly filing for both debt and equity products with the regulator. The AMC will have close to 15 operational branches at the time of the first product launch and this will increase to around 30 branches in over 25 cities by Mar 2009,��� Said Saurabh Nanavati, chief executive officer, Religare AEGON Asset Management Company.
According to Nanavati, over the next 2-3 years, the AMC will focus on creating wide reach across India especially in tier II and tier III cities.
Religare Enterprises is one of the integrated financial services groups of India. Its businesses include three key verticals: the retail, institutional and wealth management. AEGON is one of the world���s largest life insurance and pension groups, and a provider of investment products.
���We will be shortly filing for both debt and equity products with the regulator. The AMC will have close to 15 operational branches at the time of the first product launch and this will increase to around 30 branches in over 25 cities by Mar 2009,��� Said Saurabh Nanavati, chief executive officer, Religare AEGON Asset Management Company.
According to Nanavati, over the next 2-3 years, the AMC will focus on creating wide reach across India especially in tier II and tier III cities.
Religare Enterprises is one of the integrated financial services groups of India. Its businesses include three key verticals: the retail, institutional and wealth management. AEGON is one of the world���s largest life insurance and pension groups, and a provider of investment products.
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