French mutual fund major Credit Agricole Asset Management (CAAM) is eyeing a pie of the Indian mutual fund industry. The fund house that manages assets worth 534.8 billion euro globally would be the fourth French mutual fund giant to enter India.
While AXA has collaborated with Bharti, BNP Paribas has a tie-up with Sundaram and Société Générale Asset Management with SBI.
Like the early French entrants, CAAM, too, is looking for a joint venture partner. In the other eight countries that CAAM operates in, the AMC has either entered singly or through a joint venture.
“The due diligence process has begun,” Thierry Mequillet, CAAM’s chief executive Asia, said. However, he said the percentage of stake the French company would have in the mutual fund JV would be decided during negotiations.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment