The scramble among fund firms for a piece of the Indian market continues. The Wall Street Journal's
Mark Cobley rounded up announcements from three Western-headquartered investment managers over the past few days in the Thursday edition of the
Fund Track column
The local joint-venture business of AXA
debuted its first two mutual funds in India on Tuesday. On the same day, Deutsche Bank
elevated Suresh Soni
, chief investment officer of its $2.6 billion Indian asset management business, to chief executive. Soni's predecessor, Vijay Mantri
, is now chief executive of a joint venture between Prudential Financial
and Indian real-estate firm DLF Group.
A day earlier, Pioneer Global Asset Management
put up a fund joint venture with India's Bank of Baroda.
The other portion of the Fund Track column, penned by Daisy Maxey, was about four Nuveen Investments
municipal funds planning to offer a new form of security backed by Deutsche Bank. The security is aimed at helping those who were locked in auction rate preferred securities.
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