Kotak AMC, T Rowe Price of US tie up for emerging market fund

22 February 2007

The fund is likely to be launched in the next couple of months, Sandesh Kirkire, CEO, Kotak AMC, said, adding, the fund can be of a size of $150 million, as per SEBI regulations.

"We will be filing our application with SEBI within the next couple of days," he said.

T Rowe Price fund invests primarily in a widely diversified, global portfolio of transferable equity and equity-related securities of companies established or conducting a significant proportion of their business activities in the emerging countries of Latin America, Asia, Europe, Africa and the Middle East.

The fund, he said, is expected to outperform the MSCI Emerging Markets Index over the medium-to-long-term.

"Kotak AMC is proud to introduce a fund which will provide existing investors and potential investors the opportunity to participate in global market. It will help domestic investors with small sums access global markets," Kirkre said.

T Rowe Price is one of the world''s leading independent investment management firms and is based in Baltimore, US.