2016
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Softbank
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Mizuho Financial
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Nomura
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Hitachi
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Detailed explanation-1: -Japanese financial company Nomura has fully exited its mutual fund joint venture with state-run insurer LIC, the latter announced in a press release today. As a result, LIC Nomura Mutual Fund has now been renamed LIC Mutual Fund.
Detailed explanation-2: -The first company that dealt in mutual funds was the Unit Trust of India. It was set up in 1963 as a joint venture of the Reserve Bank of India and the Government of India.
Detailed explanation-3: -In accordance with the Securities & Exchange Board of India (Mutual Fund) LIC Mutual Fund was set up as a separate Trust by the Life Insurance Corporation of India (who is the Sponsor).
Detailed explanation-4: -Nippon India Mutual Fund (NIMF) was earlier known as Reliance Mutual Fund.