labels: marketing - general, mutual funds
Doha Bank buys 49-per cent stake in Investnet to offer mutual funds in India news
04 September 2007

Mumbai: Doha Bank of Qatar, which has acquired a 49 per cent stake in Investnet, is looking to offer mutual funds in India.

Doha Bank deputy chief executive officer R Seetharaman will be chairman of the company following a re-branding exercise, according to Investnet managing director Prince George.

Doha Bank recently got an approval from the Securities and Exchange Board of India (SEBI) to act as a Foreign Institutional Investor (FII).

Investnet will concentrate on non-resident Indians (NRIs) who want to invest in the country. "NRIs often do not have much time on their hands so we offer portfolio management schemes. We have tie-ups with 18 mutual funds in India," said George.

George observed that NRIs are diversifying their areas of investment to real estates as opposed to the earlier practice of "over 90 per cent of investments going into fixed deposits." The NRI investors are not speculative.

They look at good assets that will give good returns, he added.
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Doha Bank buys 49-per cent stake in Investnet to offer mutual funds in India