Business Daily from THE HINDU group of publications
Thursday, May 17, 2007
ePaper
Business Daily from THE HINDU group of publications Thursday, May 17, 2007 ePaper |
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Markets
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Mutual Funds Industry & Economy - Real Estate & Construction Our Bureau
Mumbai May 16 Real estate mutual funds will be offered to investors by December or the end of the current financial year, said Mr A.P. Kurian, Chairman, Association of Mutual Funds in India (AMFI), at a seminar on European Financial Markets, organised by FICCI. "We have been working on the real estate funds to be offered by March," said Mr Kurian. AMFI is also working to help mutual funds manage pension money. "Once it is allowed by the Government, the mutual fund industry will manage around Rs 2,000 crore initially," said Mr Kurian. Meanwhile, Credit Agricole Asset Management is looking for partners to set up a joint venture mutual fund in India. "The talks are in the preliminary stage," said Mr Thierry Mequillet, Chief Executive Asia, Credit Agricole Asset Management, at the seminar. The global investment firm is already present in India through its investment bank Calyon and broking firm, CLSA.
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