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News Update as at 18.00 hrs (IST)

Marketing
Kotak AMC ties-up with US-based T. Rowe Price

MUMBAI: Kotak Asset Management Company on Thursday announced a tie-up with the US-based T Rowe Price to launch a fund that will invest in the Luxembourg-domiciled T Rowe Price Funds Sicav-Global Emerging Markets Equity Fund.

T Rowe Price is one of the world's leading independent investment management firms and is based in Baltimore, US. The fund is expected to be launched in the next couple of months, Mr Sandesh Kirkire, CEO, Kotak AMC, said here today.

"We will be filing our application with SEBI within the next couple of days," he added. In line with SEBI regulations, the size of the fund can be up to $150 million, Mr Kirkire said.

The fund will aim to outperform the MSCI Emerging Markets Index over the medium-to-long-term by investing in T Rowe Price fund.

This fund invests primarily in a widely diversified, global portfolio of transferable equity and equity-related securities of companies established or conducting a significant proportion of their business activities in the emerging countries of Latin Ame rica, Asia, Europe, Africa and the Middle East.

Mr Kirkire said, "Kotak Asset Management is proud to introduce a fund which will provide existing investors and potential investors the opportunity to participate in global market.

"It will help domestic investors with small sums access global markets," Mr Kirkre said, adding, "This tie-up will ensure quality management of the investors' money and provide valuable participation in emerging markets."

The tie-up with T Rowe Price encompasses only product initiatives, he said. - PTI

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