Monday, December 10, 2007

UBI scouts for foreign mutual fund partner

MUMBAI: Officials from Union Bank of India (UBI) have visited Belgium and Spain to scout for a partner for its mutual funds venture which it plans to kick off by March.

The bank is currently evaluating various entities to take on as its partner and would be finalising details such as the stakeholding of the parties in the venture after January.

The bank, last week, firmed up its insurance JV, along with Bank of India, and Japanese major Dai-ichi.

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