Financial Daily from THE HINDU group of publications
Tuesday, Aug 17, 2004
Financial Daily from THE HINDU group of publications Tuesday, Aug 17, 2004 |
||
|
|
||
|
Markets
-
Mutual Funds ABN Amro AMC to launch Liquid Fund Veena Venugopal
Mumbai , Aug. 16 ABN Amro Asset Management Company is launching its fifth fund, the ABN Amro Liquid Fund. The initial public offer of the fund would open on August 31 and close on September 1. This completes the initial product portfolio of the newly set up asset management company, according to Mr Nikhil Johri, Chief Operating Officer, ABN Amro Asset Management. Speaking about the initial public offer of the four funds that were launched in July, Mr Johri said that a few thousand applications were already in. "The response is promising, especially for the equity funds. This should get better as refunds from the initial public offer of TCS Limited also moves back to investors' hands," he said. The initial public offer of the equity fund, monthly income plan, flexi debt scheme and a floating rate fund closes on September 3, 2004. Investor response towards these funds is geographically tilted towards, Bombay, Delhi and Kolkata being leaders. The funds are actively sold through distributors rather than heavy-duty advertising. The Indian arm of the fund house is seeking to grow to a size of Rs 3,000 crore in the next year, said Mr Johri.
More Stories on : Mutual Funds
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|