The first offer by Bharti AXA Investment Managers (BAIM) in diversified equity space through its BA Equity Fund, an open-end equity growth fund whose investment performance is benchmarked against S&P CNX Nifty index, has managed to pleasantly surprise its investors by announcing a dividend payout today, just seven months from launch.
While BAIM, a joint venture between Bharti Ventures Ltd, AXA Investment Managers and AXA Asia Pacific Holdings, is itself a fairly new asset management company, it is looking to move aggressively in the space to make up for lost time against well-entrenched competitors.
The record date for BA Equity Fund, launched in September 2008, has been fixed as 29th May 2009 and all purchases on or before this date will be eligible for the dividend.
According to Sandeep Dasgupta, CEO, Bharti AXA Investment Managers, “Stringent risk control norms have been the pivot in our investment strategy. It is our stated philosophy that we book profits and share them with the investors.”