Indian financiers plan to tap Singapore and Mauritius

10 years, 8 months ago - March 18, 2011
TP Raman, managing director of Sundaram Asset Management Company tells The Financial Express that Sundaram Mutual is confident of a strong growth and will launch offices in Singapore and Mauritius to tap investors

The India growth story is in place and the global perspective towards the country has not changed. But the industry stagnates around R700,000 crore mark owing to volatile market conditions. Investors have become more cautious post 2008-2009 meltdown and are waiting for the volatile condition to ease. Due to volatility, inflows into the equity funds are not taking place as expected. However, it is heartening to note that things are looking up on the fixed income/fixed maturity as well as systematic investment and capital protection plans.

In order to woo more foreign investors towards our funds, the company will set up an offshore platform in Singapore and in Mauritius with an alliance partner. We will host a few funds in these countries. We hope to commence operations in six months. With positive budget announcements, we hope to tap foreign investors through these platforms. Our Dubai office is doing well and contributes 2.5% to our total equity fund size of R9,000 crore.

 

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