Deutsche the latest manager to exit India's funds market

Deutsche Bank is to sell its Indian asset management business to Pramerica Asset Managers for an undisclosed sum. The business, with $3.2 billion of assets under management, is not considered core to Deutsche’s regional plans, despite the bank’s claims that the Indian business has been a success and it is fully committed to the country. Meanwhile Pramerica Investment Management (PIM), ranked among the top 10 institutional money managers in the world, has forged a joint venture w…