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AIG all set to start Asset Management Company in India

February 14th, 2007

Media sources says that the American International Group, Inc.’s AIG Global Asset Management Company (India) Pvt. Ltd. has got the regulatory approval from the Securities and Exchange Board of India (SEBI). The approval allows the AIG to start asset management and mutual funds business in India. The top management of the company which looks after the operations is also released.

The Indian Mutual Funds market is really hot and looks very lucrative for many global asset management companies. Only few days back Standard Chartered AMC was acquired by the UBS AG while Shinsei Bank tied up with Andhra Bank to enter Indian Mutual Fund market. Many other AMCs are in various stages of their plans to enter into the mutual fund market and are in the process of getting the necessary regulatory approvals.

Entry Filed under: Mutual Funds, PineBridge Mutual Fund (formerly AIG Mutual Fund)