HDFC AMC launching three funds
Mumbai: HDFC Asset Management Company will launch three funds around April end. The company will begin with an equity fund, a debt fund, and a balanced fund, and introduce other schemes later, according to Housing Development Finance Corporation chairman Deepak Parekh.
The UK’s Standard Life, which has a stake in HDFC and HDFC Bank, will take a 26 per cent stake in the AMC after a year.
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European bourses merging
Brussels: Three bourses, in Paris, Amsterdam, and Brussels, will merge to form the largest stock exchange in the 11 euro-zone countries. It will have a market capitalisation of over two trillion euros, equivalent to $1.93 trillion at current rates.
The merged entity will be called Euronext. It will have Paris as its centre for trade in blue-chip stocks, Amsterdam to handle futures and derivatives, and Brussels small and medium-sized companies.
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