India

Companies such as Goldman Sachs, BNP Paribas, Canara Robeco, Aditya Birla Financial Services, and Helix Investment Advisors are expanding their bases and presence in India.

 

 

ICICI Prudential Mutual Fund has started a fresh fund called ICICI Prudential Fixed Maturity Plan Series 53.   The scheme is for 371 Days and New Fund Offer will be priced at Rs. 10 per unit. It is reported that the subscription will be opened from 1 December to 7 December 2010. The scheme’s investment objective is producing regular returns through investments.   At present the two alternatives available for the scheme are cumulative and dividend option. The entry load and exit load charges will not be applicable for this current scheme. The minimum amount for application is Rs. 5000. The performance of the scheme will be evaluated against Crisil Composite Bond Fund Index.

State Bank of India mulls starting wealth management services in the current financial year.

India's ICICI Venture, the private equity arm of lender ICICI Bank, plans to launch a $500 million fund by July to invest in infrastructure projects, its chief executive said.

Lenders holding StanChart's IDR started sourcing anchor investors from foreign investors, local banks and mutual funds.

Move can make lender India’s biggest mutual fund marketing machine.

Parties will invest $67mln for new mutual fund business targeted to launch in Q4 2010.

Lender eyes doubling its number of stock analysts as it beefs up equity business in Asia.

Volatile market conditions prompted lender to defer plans of raising $500 million by selling five-year bonds.

UBI ties up with a Belgian company to engage in mutual fund business within 4 months.

State Bank of India's tie-up with Bank of Maharashtra aims further expansion to semi urban and rural investors.

CEO Varun Bajpai and Deputy CEO Praveen Gupta were assigned to manage SBI Macquarie and future firm.

SBI partners with Insurance Australia Group to open SBI General Insurance.

Dena Bank will distribute Shinsei Mutual Fund schemes through its network of branches spread across the country. This is based on Dena Bank's distribution agreement with Shinsei Asset Management India Pvt. Ltd.