India fund managers mull merits of liberalisation proposal
AsianInvestor polled senior Indian asset managers to gauge their views on the government's unexpected move to open the country’s mutual funds industry to direct foreign investment.
Asset managers in India have universally welcomed a proposal by finance minister Pranab Mukherjee to open the country’s mutual funds industry to direct investment from foreigners.
Only foreign institutional investors (FIIs) registered with the Securities and Exchange Board of India (Sebi) and non-resident Indians are permitted to invest in mutual fund schemes at present.
But in his government budget speech on Monday, Mukherjee sprung a surprise by proposing to liberalise the por…
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