Private sector lender Axis Bank on Tuesday said Schroder Singapore Holdings has completed the acquisition of a 25 per cent stake in its mutual fund arm, Axis Asset Management Company (AMC). The stake sale was announced in April. After this deal, Axis AMC will get access to Schroders’ global distribution network.
It will also get to advise overseas funds invested in Indian securities. “Longer term, in addition to distributing Axis AMC’s funds internationally, there will be an opportunity to distribute Schroders funds in India through Axis AMC’s distribution network,” said Axis Bank in a release.
