Financial Daily from THE HINDU group of publications
Tuesday, Oct 21, 2003
Financial Daily from THE HINDU group of publications Tuesday, Oct 21, 2003 |
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Markets
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Mutual Funds Deutsche Mutual eyes portfolio service Our Bureau
Kolkata , Oct. 20 DEUTSCHE Mutual Fund will soon offer portfolio management services as part of its plan to cater to the bulge-bracket segment. The fund, which currently manages about Rs 2,280 crore, has identified what it feels is a "strong demand" for a portfolio management scheme (PMS), one that will meet the requirements of high networth individuals. "The demand for PMS is growing in this country. For us, entering this area makes sense as it will be an extension of what we already do," Mr Sandeep Dasgupta, CEO of Deutsche Asset Management, said. The MF, which will soon complete its first year of operations, runs an equity and several debt funds in India. PMS as an investment model will succeed because of its inherent flexibility. Clients can have plans that are structured especially for them, complete with investments in such relatively new options as derivatives, it is pointed out. The fund, Mr Dasgupta stated, is also working on a couple of fresh proposals that may be introduced in course of time. While details are not available at this stage, the MF is of the belief that a large section of the market will be interested in securing regular income from relatively safe investment avenues. Among the options that provide regular income to investors are schemes that are widely branded as MIPs, a name that has been popularised in recent years by the likes of Unit Trust of India. The average MIP is predominantly invested in debt but is free to make limited allocations to equity, mostly subject to a ceiling of 10-20 per cent. The latter is aimed at enhancing the performance of the scheme that is otherwise bound by returns from fixed-income securities.
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