Schroder Singapore Holding has acquired a 25 percent stake in Axis Asset Management Company, giving the latter access to the former's global distribution network.
Axis will also be able to advise overseas funds invested in Indian securities.
On the other hand, the deal enables Schroders to participate in the growth opportunity represented by the Indian mutual fund market through a strategic relationship with a leading private sector bank, said the Axis Bank.
Longer term, in addition to distributing Axis AMC's funds internationally, there will be an opportunity to distribute Schroders funds in India through Axis AMC's distribution network, it added.
Schroders has operations in 26 countries.
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