Financial Daily from THE HINDU group of publications
Wednesday, Jun 02, 2004
Financial Daily from THE HINDU group of publications Wednesday, Jun 02, 2004 |
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Markets
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Asset Management Companies AMRO Mutual gets clearance Our Bureau
Kolkata , June 1 SEBI has cleared AMRO Mutual Fund's application to begin asset management operations in India. The approval puts an end to a fairly long wait for the mutual fund, which has already put in place a management team, led by Mr Nikhil Johri, who left Alliance Capital MF recently to join the ABN AMRO Bank-sponsored fund. The fund will swell the ranks of predominantly foreign-owned joint ventures such as HSBC MF, Deutsche MF and ING MF. As on March 31, 2004, ABN AMRO Asset Management handled over $200 billion in assets internationally, according to a press release. It has large bases in London, Amsterdam, Hong Kong and Singapore and manages money for more than 2,000 institutional clients. It also provides investment management services to private clients.
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