News: Reliance MF plans fund for overseas investors
(ACERC 30/03/2006) Mumbai - Reliance Mutual Fund on March 29 filed prospectus to launch a fund for overseas investors. Christened Reliance Emergent India Fund, the fund will open to investors in the US, the UK and West Asia. Several other domestic fund management companies have been thinking of tapping this market for a while with limited success though.
UTI Mutual Fund and Birla Mutual Fund are the other domestic funds being advisors to off-shore funds although their fund size is not huge compared with their foreign counterparts.
With growing interest in Indian equities, there has been a growing demand for capable fund managers. There is a lot of demand for fund managers with good track record and credibility. Domestic fund managers so far have managed to provide better returns than off-shore fund managers which make a strong case in favour of them.
Reliance Emergent India will have only one investor called Emergent which is a company incorporated in Mauritius in September 2004 with limited liability. This is the route taken by all domestic funds managing off-shore funds.
UTI Mutual Fund and Birla Mutual Fund are the other domestic funds being advisors to off-shore funds although their fund size is not huge compared with their foreign counterparts.
With growing interest in Indian equities, there has been a growing demand for capable fund managers. There is a lot of demand for fund managers with good track record and credibility. Domestic fund managers so far have managed to provide better returns than off-shore fund managers which make a strong case in favour of them.
Reliance Emergent India will have only one investor called Emergent which is a company incorporated in Mauritius in September 2004 with limited liability. This is the route taken by all domestic funds managing off-shore funds.
posted by InCar Group Press Room at 17:13
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