Being an ELSS, it offers deduction under Sec. 80C
The board of director at their meeting held on Tuesday approved the proposal to discuss, negotiate and finalise the terms of acquiring 100 per cent or majority equity shareholding of Lotus India AMC, Religare said in a statement. The company has agreed to acquire Lotus India AMC from its majority shareholders, Alexandra Fund Management (an affiliate of Fullerton Fund Management Company Ltd) and Sabre Capital.
It is also learnt that Deutche bank has initiated a search for a new head of its private wealth management business in India
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