Mumbai, Sep 25: Religare AEGON AMC plans to launch its first Mutual Fund product by November-December this year. The Company, a joint venture between Religare Enterprises and AEGON has received its final regulatory approval from the Securities and Exchange Board of India to launch the Mutual business in the country, according to a release here.
Company chief executive officer Saurabh Nanavati said that it would shortly be filing for both debt and equity products with the regulator. The AMC would have close to 15 operational branches at the time of the first product launch and the number would increase to over 30 branches in 25 cities by March, next year. Over the next three years the Company would focus on creating wide reach across the country especially in Tier I and Tier II cities, he said adding that the first two years operations should see setting up of 100 branches.