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Encouraged by the great economic promise, improved relations with the West,
and tremendous strides in industry, major foreign funds disclosed plans to
enter the Indian mutual fund industry.
US-based American International Group and JP Morgan, British fund house Dawnie
Day and Singapore-based Temasek are have disclosed plans to enter the Indian
mutual fund industry in the next five-six months. It is not clear if they would
enter the market by themselves or through joint ventures but are awaiting
Securities Exchange Board of India (SEBI) approval.
Their plans include investment in realties, asset management, consumer
finance, mortgage guarantee, and capital recovery businesses.
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