As per the fresh business reports, Bank of India (BoI) has announced in a press release that it has acquired around 51 percent of stake in Bharti AXA Mutual Fund.
However, no information was disclosed about the amount of acquisition.
Reports state that BoI and AXA Investment Managers Asia Holdings Pvt. Ltd. (a secondary branch of AXA Investment Managers, part of the AXA Group) have decided to start a partnership in the asset management business run by Bharti Axa Investment Managers Pvt. Ltd. (BAIM), which is the asset management corporation to Bharti AXA Mutual Fund.
Under the newly developed joint venture, BoI will gain 51 percent of the total equity and the left 49 percent will be gained by the AXA Group. Read More