Shinsei Bank to launch Mutual Funds in July
Shinsei Asset Management (India), plans to launch its first two mutual fund products in india before end-July and targets to have
approx 6-8 products in the market in the next 18-months, a top company official said.
“We plan to hit the Indian market with an equity and a fixed income product by end-July. We also plan to launch a liquid fund, the timing of which would be decided soon,” Shinsei Investments’ Chief Executive Officer, Piyush Surana, told.
As the fund-house builds up its base, it would launch more products and plans to have 6-8 products in the market over the next one-and-a-half-years, Surana said.
Japan’s Shinsei Bank holds a 75 per cent stake in the mutual fund house, with investor Rakesh Jhunjhunwala and Freedom Financial, Rakesh Jhunjhunwala, named India’s Warren Buffett by Forbes, has a 15% stake in the Shinsei asset management firm. It has a 32-member team, including former SBI Funds Management Pvt. Ltd executive Sethuram Iyer as chief investment officer, as well as 10% of Freedom Financial.
The equity fund would be known as Shinsei Industry Leaders Fund and will invest in equities of companies “which are leaders in their segments,” Piyush said. The parameters that Shinsei would consider before investing are the companies’ marketshare, growth in sales and profitability, among others.
The fixed income fund would be known as the PSU Bond Fund and will invest primarily in fixed income securities of PSUs. It would have two maturity buckets–up to 1-year and up to 3-years.
Source:- economictimes
