Shinsei to hit Indian market with 2 MF products by end-July

MUMBAI: Shinsei Asset Management (India), plans to launch its first two mutual fund products in the country before end-July and targets to have 6-8 products in the market in the next 18-months, a top company official said.

"We plan to hit the Indian market with an equity and a fixed income product by end-July. We also plan to launch a liquid fund, the timing of which would be decided soon," Shinsei Investments' Chief Executive Officer, Piyush Surana, told PTI here.

As the fund-house builds up its base, it would launch more products and plans to have 6-8 products in the market over the next one-and-a-half-years, he said.

Japan's Shinsei Bank holds a 75 per cent stake in the mutual fund house, with investor Rakesh Jhunjhunwala and Freedom Financial, 15 per cent and 10 per cent, respectively.

The equity fund would be known as Shinsei Industry Leaders Fund and will invest in equities of companies "which are leaders in their segments," Surana said. The parameters that Shinsei would consider before investing are the companies' marketshare, growth in sales and profitability, among others.

The fixed income fund would be known as the PSU Bond Fund and will invest primarily in fixed income securities of PSUs. It would have two maturity buckets--up to 1-year and up to 3-years.