Wednesday, December 5, 2007

NEW MF Proposals - India

Et 6-12-2007, page 5

US based Prudential Financial (PFI) plans to start its assemt management business with a 61:39 JV with DLF. the venture will be called DLF Prameria Asset Managers. It expects to start operations around mid 2008.

The partners will together invst $50 million in the new company.

Prudential International Investments Chairman and CEO: Stephen Pelletier

Initially the schemes will be sold through third party financial institutions such as banks. In the medium to long term proprietory distribution network will be established. The JV will look at real estate funds when it is allowed by the government.

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