Axis bank on 18 September 2012 announced that 25 percent of its subsidiary, Axis Asset Management Company was acquired by Schroder Singapore Holdings. The deal value was not disclosed by the bank but the statement released by its spokesperson provides a detail that Schroder has an access to the global distribution network of the company and can advice it for making investment of overseas funds in Indian securities. The statement also cleared that the deal allows Axis Asset Management Company to distribute the funds of Schroder in India.
Schroder is the largest asset management company of UK with its operations in 26 countries worldwide. Schroder Singapore Holdings private limited is a subsidiary to Schroder, UK.
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