Religare and Aegon Joint Venture for Mutual Fund breaks up.

Dutch financial services major Aegon and Religare Enterprises have decided to call off their joint venture for setting up a mutual fund. They have taken the decision after 1 month of getting SEBI’s approval for setting up the AMC. Aegon is to take up control of Religare Aegon Mutual Fund, a joint venture with 50 per cent stake to both. Lotus India Mutual Fund, which was acquired by Religare Aegon two weeks ago, will be Religare’s asset management business in India. The Lotus acquisition, which is awaiting regulatory approval, Religare Aegon would have got access to six equity funds and a host of debt funds with combined assets under management of Rs 5,458 crore. The fresh proposal is subject to regulatory approval.

Source:http://mutualfundsindia.com/news_viwe.asp?news_headline=Religare+and+Aegon+Joint+Venture+for+Mutual+Fund+breaks+up%2E@