Reliance Capital To Launch More India Funds Abroad

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NEW YORK –  Anil Ambani-led Reliance Group’s financial services arm Reliance Capital Asset Management Company (RCAM) said it will consider launching more India-focused funds in foreign markets.

The announcement was made by RCAM chief executive Sundeep Sikka, who is here to participate in the India Investment Forum held on the occasion of Prime Minister Narendra Modi’s five-day ongoing U.S visit.

Noting there are already some existing investors in the U.S whom RCAM was advising, Sikka said: “As an asset management company, we clearly see that with a long term track record that we have and with a strong research capability, we want to give an access to a lot of different markets globally to invest in India.”

“We see a trend where more and more institutional investors want to be in India. We may not need partners overseas, as Sebi (market regulator) rules allow us to go alone also on such ventures,” he added.

RCAM had launched two India funds in Japan during Modi’s visit there last month.

“Recently, we launched two schemes in Japan and we will explore other opportunities also. We are certainly seeing more money coming into India,” Sikka said.

“Effectively we want to be seen as a preferred gateway and if somebody wants to invest in India, then they should think Reliance Mutual Fund. That is very much possible because of our track record,” he added.