JP Morgan's India fund in Japan is a hit

By agencies   |   Thursday, 26 January 2006, 08:00 Hrs
Printer Print Email Email
KOLKOTA: JP Morgan Fleming Asset Management (Japan) has got enthusiastic response for its first India-dedicated equity fund in the Land of the Rising Sun in its first month of existence.

A company spokesman said the recently launched fund, titled `Jardine Fleming India Equity Active Open', has raised funds worth 15 billion yen as on January 18, since its inception.

The fund has already begun to invest in Indian equities through JF Asset Management Ltd, based in Hong Kong. The inflow to India began immediately after the fund's inception on December 19, 2005, the sources said. The open-ended fund is following a strategy of investing only in the free-float MSCI India Index stocks.

This new India-specific equity fund is one among several funds launched since the middle of 2005 in Japan.

It is estimated that around $4 billion has been raised in Japan for Indian equity investments in the last six months by various global financial firms, including Nomura and Morgan Stanley. Sources in the international financial major said that the appetite for Indian stocks was still strong and growing in Japan, both in retail and institutional segments despite words of caution from certain quarters.

SPOTLIGHT
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..