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IDFC MF Investing Retail Savings Into Infrastructure Projects |
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The IDFC Mutual Fund that was earlier known as the Standard Chartered Mutual Fund has recently announced that it is planning to start offering asset management service in India, very soon. The officials of the company have stated that the company is thinking of making the asset management foray with a view to channelise India`s retail savings into the infrastructure sector of the country. The officials said that though mainly the banks and financial institutions have made the investments in the Indian infrastructure sector so far, this structure is likely to change with the household savings playing a major role in infrastructure development, as the Indian market is developing at the moment.
The Managing Director of the company, Mr. Rajiv Lall was talking about the company`s plans with the asset management foray and said, "IDFC is known as an infrastructure company which is now emerging as a financial conglomerate". He said that the company is already having its presence in the sectors like investment banking, institutional broking and private equity, and it has recently acquired the asset management business of Standard Chartered and has also renamed the company. He added, "The AMC would be a stage for innovation for new products".
According to the sources form the company; the fund house is also looking at introducing some new products and services in the other areas like portfolio management service, real estate, gold funds and structured products. The MD of IDFC Mutual Fund, Mr. Naval Bir Kumar said, "Since the regulators are allowing new products, a high range of products could be launched". He said that the AMC is also likely to be launching some India focused offshore funds for the foreign investors who have the intentions to invest in India. Mr. Lall said that the company is having a multi-pronged strategy for attracting the retail savings to infrastructure and added that the fact of the infrastructure projects generating cash and having already turned into low-risk assets is a very much attractive thing for the retail investors.
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| IDFC MF Investing Retail Savings Into Infrastructure Projects |
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