Indian asset managers step in

Dubai: Many new generation Indian asset managers who already have their presence in global markets such as London, New York and Singapore see the Dubai International Financial Centre (DIFC) as their next frontier of expansion.

Reliance Asset Management (UK) Plc — a wholly owned subsidiary of Reliance Capital Asset Management expects to augment its non-resident Indian (NRI) client base from the region through a presence in the DIFC.

Kotak Mahindra Financial Services Limited, a part of India's Kotak Mahindra Group, last month announced the launch of its DIFC operations. "India has shown resilience and prudence during the recent global financial crisis. A large diversified consumer base, a growing private sector enterprise, a stable government and a strong regulatory environment make India an ideal investment destination," Somer Massey, CEO, Kotak Mahindra Financial Services said.