MF News Bank of India picks up 51% stake in Axa Investment Managers

Bank of India picks up 51% stake in Axa Investment Managers

Bank of India has reentered the mutual fund industry by acquiring 51% stake in Axa Investment Managers

Team Cafemutual Dec 5, 2011

Mumbai: Bank of India has reentered the mutual fund industry by acquiring 51% stake in Axa Investment Managers. The balance will be held by Axa Group.

Bank of India has a network of 3752 branches in India. This will help the newly formed joint venture to leverage BOI’s vast banking network. Bharti Axa AMC managed Rs. 176 crore AAUM as on September 2011.

Ernst & Young were the advisors to this transaction.

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