Dresdner to sell stake in TAML

	Financial Daily from THE HINDU group of publications Wednesday, March 08, 2000

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Dresdner to sell stake in TAML

Our Bureau

MUMBAI, March 7

DRESDNER RCM Global Investors Asia Ltd has agreed to sell its 20 per cent stake in Tata Asset Management Company Ltd (TAML), to the Tata group companies after getting the necessary approval.

Mr. K.N. Atmaramani, Managing Director, TAML, stated in a press release that TAML is discussing opportunities of entering into a strategic joint venture with a synergetic partner, enabling Tata Mutual Fund to establish its own distribution and marketing branch network.

Meanwhile, Tata Mutual Fund has announced details of returns, dividends and issue of bonus units based on performance for the year ended February 2000. Tata Tax Savings Fund topped the list with an annual return of 277 per cent. Tata IT Sector Fund has a nnounced bonus units in the ratio of 1:2.