Kotak launches Indian fund of funds for wealthy income seekers

Hedgeweek

23 February 2009

Indian bank Kotak Mahindra has launched an Indian-focused income fund of funds for family offices, private banks and institutional investors.

Kotak, a wholly owned subsidiary of the Indian bank under the same name, will look to generate returns by allocating to domestic income funds with exposure to Indian government securities and corporate bonds.

The fund of funds offering coincides with the recent announcement by the Indian government to increase the corporate debt investment limit – from US $6 billion (£4.2 billion) to $15 billion – by foreign institutional investors.

Shyam Kumar, the investment manager for the fund, said: “The corporate debt market in India is relatively immature compared to other debt markets around the world.

‘The scenario this year is expected to resemble that during early 2001-03 when, post the dotcom bust, the Reserve Bank of India reduced interest rates in a bid to boost economic growth. Fixed income funds in India have already attracted huge inflows with debt funds alone attracting more than $1 billion in December 2008.”

The fund will be denominated in US dollars with a minimum investment limit of $100, 000. It will also be available to investors in Europe, Middle East and Far East.

What's New

View all

31 December 2011

Changing investors mindset is likely to pose a challenge

Gulf News

Contact us

US

California

Phone:

+1 408 730 2671
+1 914 997 6120

Email: ravilochan@kotakinc.com

latitude: 36.778261

Longitude: -119.417932

Address:

Kotak Mahindra Inc
California 5201 Great America Parkway, Suite 320, Santa Clara, CA 95054

United States

See map: Google Maps

View address

UK

London

Phone:
+44 20 7977 6900

Email: abhishek.bhalotia@kotak.com

latitude: 51.513012

Longitude: -0.075566

Address:

Kotak Mahindra (UK) Limited
London EC3N 1LS 8th Floor, Portsoken House 155-157 Minories

United Kingdom

See map: Google Maps

View address

UAE

Dubai

Phone:
+971 4 3848900

Email: gijo.joseph@kotak.com

latitude: 25.242297

Longitude: 55.301785

Address:

Kotak Mahindra (UK) Limited Office
Off No 105, Level 1, Tower 2, Al Fattan Currency House, Dubai International Financial Centre, PO Box 121753, Dubai.

United Arab Emirates

View address

Singapore

Raffles Quay, Singapore

Phone:
+65 6290 5590

Email: ruchit.puri@kotak.com

latitude: 1.281430

Longitude: 103.850970

Address:

Kotak Mahindra (UK) Limited
16 Raffles Quay 35-02/03 Hong Leong Building

Singapore

View address

Mauritius

Port Louis

Phone:
+230 212 9800

Email:

latitude: -20.165300

Longitude: 57.496400

Address:

Kotak Mahindra (International) Limited
Port Louis 4th Floor, Les Cascades Building Edith Cavell Street

Mauritius

View address