Union Bank, Indiabulls Get Sebi Nod to Enter MF Space

Union Bank of India has got the approval from Sebi to enter the mutual fund arena. Meanwhile, Indiabulls Financial Services too got the regulatory nod for launching its mutual fund company. UBI hopes to launch the business within the next two months. It will be launching minimum two products. The details are yet to be worked.

Indiabulls Mutual Fund, sponsored by Indiabulls Financial Services, has got the final approval from Sebi to launch its MF business. It plans to hit the market with its maiden offering in both equity and fixed income segment in a couple of months.