Bharti AXA Investment gets SEBI nod for operations

New Delhi, Apr 2 (UNI) Bharti AXA Investment Managers (BIM) today said it has received regulatory approval from Securities and Exchange Board of India (SEBI) to commence asset management operations in the country.

''We are very pleased to receive the SEBI nod. We have already hired all the key personnel and are in advanced stages of setting up a nationwide distribution network with sales offices,'' company CEO Sandeep Dasgupta said in a statement.

BIM, a joint venture between Bharti Ventures and AXA Investment Managers and AXA Asia Pacific Holdings, has aggressive roll-out plans with a distinct retail focus, he added.

AXA Investment Managers and AXA Asia Pacific Holdings are units of French insurer AXA, while Bharti Ventures is a part of Bharti group, one of country's leading business groups.

UNI MP AK RN1704