Five leading global asset management companies (AMCs)
are planning to enter mutual fund business in India
even as the industry recorded a 65 per cent growth in
the country in 2006.
Morgan, American International Group (AIG), AXA Investment,
Korea's Mirae Asset Group and a Japanese company are
all set to enter mutual fund business in India in 2007,
reports quoting AMFI chairman A P Kurian said.
investment manager J P Morgan is currently operating
in 50 countries with $1.3-trillion assets under management
while the American Insurance Group (AIG) is operating
in 130 countries and is a major global player in financial
Investment, which operates in Europe, America and Asia,
has its Asia Pacific bases in Hong Kong, Australia,
Japan and Singapore.
Korean Mirae Asset Group has big plans for the Asia
Pacific region and India is now on its charts.
the Indian mutual fund industry witnessing sustained
high growth along with its rising stock markets, the
foreign players are eyeing the huge Indian opportunity.