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Axis AMC gets Sebi nod for mutual fund biz

Axis AMC gets Sebi nod for mutual fund biz
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First Published: Sun, Sep 06 2009. 10 32 PM IST
Updated: Sun, Sep 06 2009. 10 32 PM IST
Mumbai: Axis Asset Management Company Limited (Axis AMC), the wholly owned mutual fund subsidiary of private sector lender, Axis Bank Limited, on Sunday received a go-ahead from the Securities & Exchange Board of India (Sebi) to launch its mutual fund business. The fund house aims to launch its first set of mutual fund schemes in October 2009. Rajiv Anand, MD & CEO of Axis AMC said,
“The Asset Management Industry in India is amongst the fastest growing financial services businesses from across the globe. With a growth rate of over 30% compounded annual growth rate during the last six years, the mutual fund business presents an interesting opportunity. We will aim to be amongst the top 10 fund houses in the country within the next 4-5 years.”
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First Published: Sun, Sep 06 2009. 10 32 PM IST
More Topics: Axis AMC | Mutual Fund | MF | Sebi | Money Matters |