trending Market Intelligence /marketintelligence/en/news-insights/trending/4latXPueeuqqEdzNkucvPA2 content esgSubNav
In This List

Report: AXA Investment Managers considers sale of stake in Indian mutual fund JV

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Podcast

Street Talk | Episode 99 - Higher rates punish bond portfolios, weigh on bank M&A

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch


Report: AXA Investment Managers considers sale of stake in Indian mutual fund JV

AXA Investment Managers SA is considering selling its stake in BOI AXA Mutual Fund, its India-based mutual fund joint venture with Bank of India, The Economic Times reported Jan. 8, citing two people familiar with the matter.

BOI AXA Investment Managers Pvt. Ltd. is the asset management company for BOI AXA Mutual Fund. AXA Investment, which holds a 49% stake in the joint venture, has reached out to Bank of India about its plan, one source told the outlet. Bank of India may also reduce its 51% stake to allow a new investor hold a majority stake in the firm, the source added.

Avendus Capital Pvt. Ltd., which is controlled by KKR & Co., is said to be interested in buying AXA Investment's stake but wants a majority stake in the mutual fund.

AXA Investment is a unit of French insurer Axa.