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Thursday, Nov 21, 2002

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Deutsche Bank set to begin MF operations

Our Bureau

KOLKATA, Nov. 20

DEUTSCHE Bank is set to flag off its asset management operations through three funds that are pending approval from the securities regulator. Among these is Deutsche Alpha Equity Fund, a growth scheme to be benchmarked against the 50-share Nifty.

Deutsche Asset Management (DeAM) has also proposed to come out with a couple of products on the debt side — Deutsche Premier Bond Fund and Deutsche InstaCash Plus Fund. These will be benchmarked against the relevant Crisil indices.

The bank, according to industry watchers, has been preparing the groundwork for its asset management business in India for quite some time. DeAM's operations will be headed by Mr Sandeep Dasgupta, who was earlier with Alliance Capital Mutual Fund.

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