Mumbai: Religare AEGON Asset Management Company today said that it has received the final regulatory approval from Sebi to launch its mutual fund business in the country.

The AMC is looking at launching its first product by November-December this year, a press release issued here stated.

Religare AEGON AMC is a joint venture between Religare and Aegon.

Religare AEGON AMC s CEO, Saurabh Nanavati, said that "we will be shortly filing for both debt and equity products with the regulator. The AMC will have close to 15 operational branches at the time of the first product launch and this will increase to around 30 branches in over 25 cities by March 2009."

The company has an initial target of opening at least 100 branches in the first two years of operations, he said.

Religare Enterprises CEO and Managing Director, Sunil Godhwani, said that "we stand firmly committed to creating and building a market leading business of excellence and like all our other businesses globally, will be driven by the passion to diligently and consistently offer best of breed opfferings to our customers."
Source : PTI