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Thursday, October 05, 2006|
Credit Suisse Plans Push Into Indian Fund Market
The booming fund industry in India has prompted yet another financial heavyweight to try to get a slice of the action. Credit Suisse First Boston is planning form an asset management firm in the subcontinent, Reuters reported.
Robert Parker, vice chairman of Credit Suisse Asset Management, said the company will be providing more details about the Indian venture "over the next six months."
In February, JP Morgan Asset Management announced its intention to put up a mutual-fund business in India in the latter part of the year. Fidelity Investments launched its first Indian mutual fund in 2005 and has since made additions to its lineup.
Other foreign firms that have set up Indian operations include Franklin Templeton and Merrill Lynch.
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