Union Bank Of India Enters Mutual Fund

In a latest development,Union Bank of India has teamed up with KBC Asset Management based in Belgium to form a new asset management entity. The new venture is called Union KBC Asset Management which was inaugurated on Friday in Mumbai by Prince Philippe of Belgium. It will start mutual fund operations in the country soon, as the bank has revealed. The joint venture was signed two years back and as per the agreement, KBC has 49 percent stake in it while Union Bank of India has 51 percent stake. The entity is now awaiting the final approval from SEBI for making the investments. The news has been affirmed by the Managing Director and chairman of the bank Mr M.V. Nair.Union Bank of India is expecting...

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