"As part of our expansion strategy in Asia Pacific and keeping in mind the opportunity India presents, we would like to enter into asset management business as soon as possible," Aviva India Managing Director Bert Paterson said.
However, the company is yet to decide about the structure, he said, adding the company is looking at a number of ways in which it could be set up.
"We are considering what the various options might involve, but we have no specific plans to announce at the moment," he said.
"The company has not yet engaged Securities and Exchange Board of India," he added.
Of the total 20 life insurance players, about 9 already have their asset management arm. Prominent among them include ICICI Prudential, Reliance Mutual Fund, HDFC Mutual Fund and SBI Mutual Fund.
Source : www.business-standard.com
However, the company is yet to decide about the structure, he said, adding the company is looking at a number of ways in which it could be set up.
"We are considering what the various options might involve, but we have no specific plans to announce at the moment," he said.
"The company has not yet engaged Securities and Exchange Board of India," he added.
Of the total 20 life insurance players, about 9 already have their asset management arm. Prominent among them include ICICI Prudential, Reliance Mutual Fund, HDFC Mutual Fund and SBI Mutual Fund.
Source : www.business-standard.com
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