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DLF to exit MF JV with Prudential

DLF to exit MF JV with Prudential
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First Published: Mon, Jan 25 2010. 10 32 AM IST
Updated: Mon, Jan 25 2010. 10 32 AM IST
New Delhi: DLF Ltd is exiting an asset management venture with Prudential Financial Inc, as a change in the rules required the realty firm to have five year experience in financial services business.
DLF, India’s largest listed realty firm, said in a statement at the weekend the asset management company would be owned by Prudential Financial’s sponsor group, which received approval from the Securities and Exchange Board of India (Sebi) in 2008 to set up a mutual fund in India.
The decision to exit the asset management company would not affect DLF’s life insurance joint venture with a unit of Prudential, the realty firm said.
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First Published: Mon, Jan 25 2010. 10 32 AM IST
More Topics: DLF | Prudential | Mutual Fund | MF | Money Matters |