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Union Asset Management Company has ventured into the new business of providing management and advisory services to foreign portfolio învestments (FPIs).
To begin with, Union AMC will give investment and advisory services to an offshore Mid and Small Cap fund which is registered as an FPI with SEBI.
It will be benchmarked against Nifty Mid-Small cap 400 Index.
G Pradeepkumar, Chief Executive Officer (CEO), Union Asset Management Company, said the venture is just the beginning of what expected to be a very exciting business opportunity.
Vinay Paharia, Chief Investment Officer, Union Asset Management Company, said the mandate is an endorsement of our investment process from reputed international investors.
Union Mutual Fund is co-sponsored by Union Bank of India and Dai-Ichi Life Holdings, Inc of Japan.
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