Bharti AXA gets nod to launch funds in India
April 5th, 2008 | by admin |Mumbai, April 2: Bharti AXA Investment Managers said on Wednesday it has received regulatory approval to launch mutual funds in India’s 33-member 5.6-trillion-rupee fund industry.
“We have already hired all the key personnel and are in advanced stages of setting up a nationwide distribution network with sales offices,” chief executive Sandeep Dasgupta said in a statement.
“Going forward, the company has aggressive roll-out plans with a distinct retail focus,” he added.
The fund firm is a joint venture between India’s Bharti Enterprises and AXA Investment Managers and AXA Asia Pacific Holdings.
AXA Investment Managers and AXA Asia Pacific Holdings are units of French insurer AXA.
