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Daiwa Asset Management Co Ltd (DAM), the asset management arm of the Japan-based Daiwa Securities Group, has launched its business in India.
DAM manages over 300 funds investing in various asset classes with assets under management of over $115 billion, as on end-December 2010.
In March, Daiwa Securities Group had announced a buy-out of Shinsei Asset Management (India) Pvt Ltd. After the completion of this acquisition in December, the company has been renamed Daiwa Asset Management (India) Pvt Ltd. The other associated entities — Shinsei Trustee Company (India) Private Ltd and Shinsei Mutual Fund along with three schemes — have all been re-named as Daiwa entities.
Mr Takashi Yamaguchi, who is DAM's official representative in India, has been nominated as the Joint CEO for the Indian business.
krsrivats@thehindu.co.in
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