StanChart Mutual to enter equities market
Mumbai: The Standard Chartered Bank has said that the bank's asset management company has received the Securities and Exchange Board of India permission to start equity schemes and that it plans to launch its first equity fund in the next couple of months.

The five-year old mutual fund has been focusing purely on debt and currently has a corpus of over Rs8,500 crore.

The bank said that it felt the time was now right to get into equities. The bank says that the growing competitiveness of Indian companies and the maturing of stock markets were the factors that they were now considering, as the quality of equity assets in India had improved over the last five years.

Standard Chartered Asset Management Company officials said that the first equity scheme would be a diversified scheme and that it will file the IPO prospectus with SEBI shortly.
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