The Hindu Business Line : Doha Bank of Qatar to launch India oriented MF

Kochi, Nov. 17 India oriented mutual fund will be launched early next year by Doha Bank of Qatar in collaboration with Tata Asset Management, Mr R. Seetharaman, CEO, Doha Bank, has said.

Addressing a press conference, he said the bank is awaiting regulatory clearances both in India and Qatar and the fund will be launched in 2 to 3 months.

Targeted at NRIs, the money mobilised by the mutual fund would be invested in infrastructure projects. Real estate and telecommunication are the two probable areas of investment, he said.

He pointed out that the tie-up between Doha Bank of Qatar and the Kochi based brokerage, Investnet, is entering an active phase with the group looking for expansion plans within India and outside.

The group is venturing into various new segments such as NBFC, Asset Management and other related services and it had already set up offices in Dubai, the UAE, Doha and Qatar. The AGM of the group, which held here on Friday, has also decided to change the name of the holding company Select Securities Ltd to Doha Brokerage and Financial Services (DBFS). It also appointed Mr Seetharaman as the Chairman, and Mr Prince George, CEO of Select Group, as the Managing Director, respectively of DBFS.

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