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Mumbai, Sept. 18 Mumbai-based financial services firm India Infoline on Thursday announced the launch of an offshore asset management business to be managed by India Infoline Capital (IIFL) and will be based out of Singapore.

“India Infoline Capital IIFL aims to offer India-focused equity products and fund management and advisory services for offshore as well as domestic customers,” said a release issued by India Infoline.

“IIFL plans to launch two funds towards the beginning of 2009 and will focus on the developed markets’ investor base of pension funds, endowment funds, mutual funds, HNIs, sovereign funds for India equity exposure in asset allocations,” said Mr Deepesh Pandey, Co-Head, Investments, IIFL Capital.

Speaking on the occasion Mr Nirmal Jain, Chairman, India Infoline, said, “While we remain focussed on financial services, we will keep diversifying and adding business lines which are synergistic to our core competency and at the same time which help de-risk our business model.”

The company also announced that it has received SEBI’s approval for the launch of a venture capital firm to be known as India Infoline Ventures Capital Fund.

More Stories on : Asset Management Companies | Overseas Investments

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