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Canara Robeco Floating Rate Fund will henceforth be managed by Mr Akhil Mittal. The fund was earlier managed by Mr A. K. Rao. Mr Mittal was earlier a senior manager in Edelweiss Capital.

Reliance Mutual has withdrawn the additional facility of Systematic Investment plan in Reliance Gold ETF with effect from October 31. The fund had earlier introduced the facility for gold ETFs on October 24.

DSP Merrill Lynch Investment Managers (DSPMLIM) has changed its name to DSP BlackRock Investment Managers to reflect the change in ownership of the asset management company. The mutual fund will be called DSP BlackRock Mutual Fund. New York-based hedge fund BlackRock had announced the acquisition of a 40 per cent stake of Merrill Lynch in DSPML Fund Managers in January.

Union Bank of India, a nationalised bank, and KBC Asset Management, the globally active asset manager of the Belgian KBC group, formally signed the shareholders agreement to set up a joint venture asset management company in India, in which they will take stakes of 51 per cent and 49 per cent, respectively.

It will be another six to eight months before the fund launches fund schemes after getting the necessary approvals from SEBI.

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