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Namrata Gada

Mumbai, July 23 SBI Funds Management plans to offer advisory services to asset management companies and local funds in the US to invest funds in India.

The services are likely to be launched from August. Mr R.S. Srinivas Jain, Chief Marketing Officer, SBI Mutual Fund said these funds in the US were awaiting regulatory approvals, following which the US customers would be provided with a flavour of the Indian markets.

“The local funds in the US have no expertise on Indian markets and we will advise them on their investments here. We have dedicated fund managers for the same,” said Mr Jain. “Currently, there are 5-6 customers. Most of the money comes from local institutions, India dedicated funds and pension money,” he added.

SBI MF is a Registered Investment Advisor with the US Securities and Exchange Commission.

Since it is the first offering of its kind in the US, investors will initially be offered a diversified equity fund and a multi-cap fund, said Mr Jain.

These funds would fall into the Portfolio Management Services (PMS) space and Ms Nipa Ladiwala and Mr Ashish Wakankar will manage the investments.

SBI MF offers investment expertise to an offshore fund and portfolio advisory services to institutional clients through SBI Funds Management.

Currently it manages Rs 1,800 crore worth of assets from clients in Japan, Europe, South East Asia and other regions.

SBI MF has also co-advised a Japanese fund to invest in Indian securities.

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