Religare buys Indian AMC part-owned by Temasek

Religare Enterprises, an Indian financial services firm controlled by the family which recently sold IndiaÆs largest pharmaceutical firm, Ranbaxy Laboratories, will acquire Lotus India Asset Management Company from its majority shareholders, Alexandra Fund Management (an affiliate of Fullerton Fund Management) and Sabre Capital. Lotus India AMC manages in excess of Rs50 billion ($1 billion) across 19 mutual fund schemes. It has raised around 90% of its assets under management through …