Morgan Stanley
India Investment Fund, Inc. is a non-diversified, closed-end management
investment company. The Fund's
investment objective is long-term capital appreciation, which it seeks to achieve by investing primarily in equity securities of Indian issuers. The Morgan Stanley
India Investment Fund will invest at least 65% of its total assets in equity securities of Indian issuers, which for this purpose means:
1)Common and preferred stock bonds, notes, and debentures convertible into preferred stock.
2)Stock purchase warrants and rights
3)Equity interests in trusts and partnerships
4)American , global, and other types of depository receipts.
The Fund may invest up to 25% of its total assets in unlisted
equity securities of Indian issuers.
UTI Mutual Fund looks to offer
India Investment Fund in other Asian markets.
UTI Mutual Fund is planning to expand business operations into other markets, utilizing its tie up with Shinsei Bank. According to fund officials, they would like to draw on Shinsei's influence in other markets in Asia.
UTI would like to offer its open-ended Shinsei-
UTI India Fund, which so far has already attracted over $300 million from investors in other markets as well. This
India Investment Fund enables
investments in stocks listed on
Indian exchanges.
The two partners had announced the tie-up last year, under which Shinsei was to distribute India-specific
investment products managed and advised by
UTI to Japanese investors. The fund's
investment objective is to grow the assets with a medium and long-term perspective.
Shinsei, which offers institutional and retail banking as well as consumer and commercial finance, has $84 billion in total assets on a consolidated basis as of June 2006.
India has a rapidly growing Banking and Financial Services sector based on sound fundamentals (low NPAs, Basel I compliant). Some highlights are:
- Total banking assets of about $450 billion in 2004; growth of 15% p.a. since 1991
- Liquid and well regulated equity markets – market cap of over $450 billion. Turnover has grown to $1,170 billion in 2003-04 from $285 billion in 2002-03
- Mutual Funds assets of $45 billion; growth of 13% p.a. Since 1993, when private mutual funds were launched
- 40 Venture Capital and Private Equity Funds operating in India.
Life Insurance | ABN AMRO Bank | American Express | ANZ Insurance | India Real Estate
