Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:ABN Amro Eyes Indian Fund Market Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, July 30, 2003

ABN Amro Eyes Indian Fund Market

by: Sean Hanna, Editor in Chief

The Netherland's ABN Amro is preparing to jump into the mutual fund industry in India. The firm, which also operates a fund business in the United States, is reportedly preparing to seek approval for the effort with the Securities and Exchange Board of India. The Board serves a similar purpose in India as the SEC does in the United States.

ABN Amro already approached India's foreign investment promotion board seeking approval for the new company, according to India's Business Standard. It has had permission to operate funds through ABN Amro Securities India Pvt Ltd since 1998 but has never done so. The paper cited government officials as the source of its information.

The Dutch firm will initially invest $5 million towards its asset management operations in India and plans to launch both fixed income and equity funds in that market. ABN Amro is expected to retain a 75 percent stake in the new asset management company and to sell the remainder to local partners who will provide portfolio management and other services.

Nikhil Johri, currently senior vice president, is expected to win the appointment as chief executive officer of the new unit.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use