Mumbai:
Kotak Mahindra group''s asset management business plans to introduce several overseas
funds to global and domestic investors, with underlying Indian assets. Senior
officials said Kotak Mahindra plans to launch a Shariah Fund for Islamic investors
in West Asia in June through a local tie-up. The fund is expected to mobilise
$150-$200 million. This is the first time that a Shariah-compliant fund would
have underlying Indian assets. Kotak MF also plans to launch an international
real estate fund with multiple closures, with the first closure at about Rs125
crore to Rs150 crore. Kotak
Mahindra is planning tie ups with international players in various
geographies for funds based on Indian assets. This will be on the lines of its
recent fund launched in Australia in joint venture with a local partner. The bank
also has plans to expand overseas through physical presence in West Asia.
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