The Hindu Business Line : State Street to explore Chinese, Indian markets

STATE Street Global, the global institutional fund management powerhouse, plans to explore the Indian market more actively in the months ahead, beginning first by leveraging its tie-up with UTI Mutual Fund.

The arrangement will require State Street to provide investment advisory services to its Indian partner, which hopes to develop a string of products with assistance from the global leader. Both China and India will in future be two very important markets for players such as State Street, it is pointed out.

"We will look at the Indian scenario more keenly in future, especially so because of our association with UTI MF, which has the largest presence locally and has created a good set-up in the area of asset management. We plan to have a stable alliance with them," said Mr Vincent Duhamel, MD, State Street Global Advisors Asia.

UTI MF is increasingly applying research tools and technological inputs to boost its services. The products that will be worked out for local investors will have to follow all regulations set by SEBI, he added.

The Indian scenario in particular has witnessed major changes in recent times, with new trends emerging in a number of key areas. Some of these changes have pertained to foreign investment and capital market regulations, Mr Duhamel, who operates out of Hong Kong, said.