Delhi: Lotus India Asset Management Company Pvt
Ltd, a joint venture between Fullerton Fund Management
Group and Sabre Capital Worldwide, has received regulatory
approval from the Securities and Exchange Board of India
(SEBI) for starting its mutual fund operations in India.
sponsor of Lotus India AMC is Alexandra Fund Management,
an affiliate of Fullerton (both Fullerton and Alexandra
are wholly owned by Temasek Holdings Private Ltd.)
India AMC has appointed Ajay Bagga, financial industry
veteran, has been appointed CEO of Lotus India AMC.
is amongst the fastest growing economies in the world,
with a robustly growing savings and investment pool
which Lotus India AMC is well poised to tap and nurture,"
says Rana Talwar, chairman, Lotus India AMC, "Given
the growth in mutual fund AUM of 61 per cent over the
last year, and of 36 per cent over the last three years,
coupled with a penetration of less than 2 per cent of
households, we feel that the Indian mutual fund industry
offers strong growth potential."
also said, "With 115 employees across 29 cities,
and over 4000 distributor tie-ups, we already have the
biggest ever infrastructure for an AMC at the launch
stage in India. Our vision is to create a world class,
global scale asset manager that can offer Indian investors
solutions to their financial needs, across asset classes
and across customer segments."
Lee, director, Lotus India AMC Pvt Ltd, said, "We
have invested in and created a solid infrastructure
in this AMC and will continue to invest in the future
to create capacity in line with the true potential of
the Indian fund management industry."
Bagga, CEO, Lotus India AMC said: "We have already
invested in a scale that will allow us to rapidly build
this business towards our objective of Rs25,000 crore
of AUM within the first few years of operations. Over
the next few quarters, we are targeting a presence in
the top 100 cities and a distribution footprint that
ranks among the top five AMCs in India. Our initial
market research has shown a high level of acceptance
for our team and our brand, and we look forward to living
up to these expectations of both our distributors and
Fund Management Co Ltd. (Fullerton) is a Singapore-based
fund management house, established in December 2003.
A wholly owned subsidiary of Temasek Holdings Pvt Ltd.,
it is also a leading fund management specialist in Asian
traditional and alternative products, based in Singapore.
fund management division deals in various asset classes
like cash / money market, global equities, global fixed
income, global currencies managed on a relative as well
as absolute return basis.
Capital Worldwide Group (Sabre) is an team of bankers,
Rana Talwar, with industry and emerging markets experience,
extensive networks and relationships with customers,
regulators, investors, other industry participants.