Mumbai: SEBI has announced that it has cancelled the registration of
Aegon Mutual Fund following a request to exit the mutual fund operations by the
company.
“Consequently, with immediate effect, Aegon Mutual Fund, Aegon
Trustee Company Pvt. Ltd. and Aegon Asset Management Company Pvt. Ltd. cannot
carry out any activity as a Mutual Fund, Trustee Company and Asset Management
Company respectively,” said the release.
Media reports suggest that Aegon did not find a bank partner to
start operations in the mutual fund industry. Aegon received SEBI approval in
2008 to start mutual fund operations with Religare Enterprises. The partnership
was called off when Religare decided to go solo in the mutual funds business.
Aegon has a joint venture Aegon Religare Life Insurance with
Religare.
