The Hindu Business Line : German fund house DWS to enter India

Global strategy
The impending change in India follows recent revisions in other parts of the world.
The Indian business, conducted through an AMC that follows local regulations, spans funds that manage mostly debt assets.

Kolkata , April 5

DWS, one of Western Europe's top asset management groups, will enter India, courtesy a re-haul of Deutsche Asset Management's (DeAM) fledgling operations in the country.

DWS, which is Deutsche Bank's mutual fund brand in Europe and Asia, will present the new public face of DeAM in the Indian market. The move is part of a global strategy that is being pursued at the moment.

When contacted, Mr Sandeep Dasgupta, business head of DeAM in India, confirmed the development. "Key retail markets in the Asia Pacific region have displayed strong growth trends. DWS is being launched keeping in view this growth potential," he told Business Line.

The impending change in India follows recent revisions in other parts of the world, it is pointed out. In the US, for instance, Deutsche Bank has re-tooled Scudder Investments (the US-based funds business of its global asset management division) as DWS Scudder. Since February, the latter now reflects the retail brand of DeAM in that country.In India, where Deutsche Bank operationalised its mutual fund arm in 2003, letters bearing information on the proposed changes will be shortly sent out to distributors and investors.

The Indian business, conducted through an AMC that follows local regulations, spans funds that manage mostly debt assets. Equity schemes under the Deutsche Mutual Fund umbrella are fewer in number when compared to debt products, although the fund has lately tried to shore up its equity base.

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