Deutsche Asset gets Indian green light

Four domestic mutual fund launches mark Deutsche Asset ManagementÆs foray into India.

Deutsche Asset Management has received its license from the Securities Exchange Board of India SEBI to offer asset management products to the Indian market, and has launched four domestic mutual funds.

DeAM executives have previously fingered India as their future growth market in the region, along with Korea. India's mutual fund market is $26 billion, of which only $4 billion is in the private sector. State Bank of India and Unit Trust of India dominate the rest, but are struggling and, in UTI's case, face being split by the government. There is also a $40 billion life insurance industry that offers future opportunities.

Fund managers expect pension deregulation,...

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