Hot Chips - Religare
Ali On Content / 10 Nov 2008
Religare Enterprises (REL) has agreed to acquire Lotus India AMC from its majority shareholders. Lotus India Mutual Fund's assets under management are worth Rs 5,457 crore (at the end of October). The asset base for the mutual fund fell by more than 30 per cent in the October quarter. The mutual fund joint venture of Religare Enterprises, Religare AEGON Mutual Fund, is yet to launch its first scheme. In the short term, this stock can jump up with the finalisation of the announcement hitting the markets.
Religare Enterprises
BSE code: 532915
Volume: 22327
CMP: Rs 330.00
Religare Enterprises (REL) has agreed to acquire Lotus India Asset Management Company from the majority shareholders, viz. Alexandra Fund Management, an affiliate of the Singapore-based Fullerton Fund Management Company and India-based Sabre Capital. Lotus India Mutual Fund's assets under management are worth Rs 5,457 crore (at the end of October). The asset base for the mutual fund fell by more than 30 per cent in the October quarter. Religare Enterprises, has a mutual fund joint venture called Religare AEGON Mutual Fund, which is yet to launch its first scheme. In the short term, this stock can jump up with the finalisation of the announcement hitting the markets.
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