AIG forays into India asset management market

AIG forays into India asset management market

Friday, 27 April 2007, 07:00 Hrs   |    7 Comments
Printer Print Email Email
New Delhi: Leading equity fund manager American International Group Global Investment Group (AIGGIG) Friday launched its maiden equity scheme in India, AIG India Equity Fund.

Priced at 10 per unit, the new fund will be open for purchase from May 3 to May 29 and then will re-open for ongoing purchase and redemption no later than June 29.

AIG India country head and chief executive Sunil Mehta said at a press conference here that the India Equity Fund would be an open-ended diversified one with no sectoral biases.

"Our vision is to create a world class asset manager in India that combines AIG Global Investment Group's global expertise with our local experience gained over the years and the track record of our experienced and professional management team," he said.

Stating that AIGGIG is a real estate player globally, Mehta said that in India, the company has forayed into commercial real estate and aircraft leasing.

"We have 4,500 pros working globally for us. And all our businesses are synergistic," he said.

Markus Schomer, managing director of AIGGIG's global economic strategy, said that compared to China, India's growth trend was much more volatile, but the underlying momentum has picked up in recent years.

"While investment has been the key driver of China's growth, consumption has been the main contributor to India's growth," Schomer said, expressing his optimism about the Indian market.

Tushar Pradhan, who will be managing the India Equity Fund, said the India fund management team would be linked to AIGGIG's global fund management team through an intranet-based knowledge system called EPIC (Equity Platform for Investment Communication).

"EPIC serves as the backbone of our equity research, stock categorisation, stock ranking, idea generation and communication. This system allows our equity teams around the world to function as a cohesive unit," he said.

Ravi Mehrotra, managing director and head of Asia asset management companies for AIGGIG said his company was looking at an investment of $10 million in the India Equity Fund.

"Our corporate philosophy is to align with the interests of our investors by taking a meaningful stake in the asset class," he said.

The New York-headquartered AIG has operations in over 130 countries and jurisdictions. It has a market capitalisation of over $180 billion with its common stock listed in the New York, London, Paris Switzerland and Tokyo stock exchanges.
Source: IANS
Write your comment now
Submit Reset
Reader's comments(7)
1: Heads Up!
Posted by:Verlittenia - 26 Sep, 2011
2: I started working from home and forex with high leverage can be very profitable. You can teach yourself to trade forex or just use a trading robot that costs $50.

Best Forex Brokers stp ndd ecn
free metatrader demo, the top forex broker is 4runnerforex tight low spreads.
Posted by:homeworkerr - 13 Sep, 2011
3: People who just started a job (for example przelewy do polski) - especially students dorabiający bit of money to be able to stay in college do not think about their future retirement. It is for them so far on that, they will not even know about it more. Meanwhile, the last day of January and July is the day drawing in the Department of Social Security. Draws are the undeclared workers to open pension funds. Such people are every year about 500 thousand.
Posted by:lesmampilsots - 24 Aug, 2011
4: ssssssssssssssssssss
Posted by:Cameacara - 22 Aug, 2011
5: sklep spawalniczy
Posted by:SweesWawpet - 13 Aug, 2011
6: Enplane The Most talented Deals On Body Supplements. You don't the hang of how a-ok these are seeking you. Not on a healthy

diet? Than you extremity to partake of supplements in behalf of your thickness or you will slowly bag sick as you get older. How

granite-like is it to take one dose of vitamins everyday? It's not. And it ordain liberate years on your life! Strain my Gurantee

or your long green upon someone! I purposefulness in the flesh guarentee that you choice get hale and hearty and perceive a huge difference or you

go to your spondulicks uphold! No B.S. Confirm it missing!

body building supplement
Posted by:biassymig - 12 Aug, 2011
7: I was always a skeptic on using someone else for SEO! Not until I met this guy. He's a pro man. Got me first

page rankings not for just one word or two. I mean 10 of my 15. This guy knows his stuff. You need to try him

out. I'm just sharing becaue this forum rocks.

Talk to you later.

Backlink your site
Posted by:uneroineesy - 11 Aug, 2011