Skip to main content
MENU
Subscribe
  • Subscribe
  • Account
  • LOGIN
  • Topics
    • Alternatives
    • Consultants
    • Coronavirus
    • Courts
    • Defined Contribution
    • ESG
    • ETFs
    • Hedge Funds
    • Industry Voices
    • Investing
    • Money Management
    • Opinion
    • Partner Content
    • Pension Funds
    • Private Equity
    • Real Estate
    • Russia-Ukraine War
    • SECURE Act 2.0
    • Special Reports
    • White Papers
  • Rankings & Awards
    • 1,000 Largest Retirement Plans
    • Top-Performing Managers
    • Largest Money Managers
    • DC Money Managers
    • DC Record Keepers
    • Largest Hedge Fund Managers
    • World's Largest Retirement Funds
    • Best Places to Work in Money Management
    • Excellence & Innovation Awards
    • WPS Innovation Awards
    • Eddy Awards
  • ETFs
    • Latest ETF News
    • Fund Screener
    • Education Center
    • Equities
    • Fixed Income
    • Commodities
    • Actively Managed
    • Alternatives
    • ESG Rated
  • ESG
    • Latest ESG News
    • The Institutional Investor’s Guide to ESG Investing
    • ESG Sustainability - Gaining Momentum
    • Climate Change: The Inescapable Opportunity
    • Impact Investing
    • 2022 ESG Investing Conference
    • ESG Rated ETFs
  • Defined Contribution
    • Latest DC News
    • DC Money Manager Rankings
    • DC Record Keeper Rankings
    • Innovations in DC
    • Trends in DC: Focus on Retirement Income
    • 2022 Defined Contribution East Conference
    • 2022 DC Investment Lineup Conference
  • Searches & Hires
    • Latest Searches & Hires News
    • Searches & Hires Database
    • RFPs
  • Performance Data
    • P&I Research Center
    • Earnings Tracker
    • Endowment Returns Tracker
    • Corporate Pension Contribution Tracker
    • Pension Fund Returns Tracker
    • Pension Risk Transfer Database
    • Future of Investments Research Series
    • Charts & Infographics
    • Polls
  • Careers
  • Events
    • View All Conferences
    • View All Webinars
    • 2022 Retirement Income Conference
    • 2022 Managing Pension Risk & Liabilities
    • 2022 WorldPensionSummit
Breadcrumb
  1. Home
  2. Print
May 03, 1999 01:00 AM

INDIA OKS NEW KIND OF INVESTMENT

  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print

    NEW DELHI, India -- In a move to boost pension fund investment in government bonds, the Indian government has granted private retirement funds permission to invest in units of mutual funds that invest solely in government securities.

    Before the change, employer-sponsored pension funds, with about $22.5 billion in assets, could invest in government bonds only by buying them from authorized primary dealers.

    The rule change went into effect April 1, but the government said there will not be any changes in pension funds' maximum allocations to different asset classes.

    Pension funds must invest 25% of assets in central government securities, 15% in state government securities, 40% in infrastructure. The remaining 20% can be split among the three categories.

    The government's easing of the rules is expected to result in the launch of a number of 100% gilt mutual funds. Indeed, Ajay Srinivasan, managing director of Mumbai-based Prudential-ICICI mutual fund said his firm plans to launch a gilt fund shortly.

    Currently, only Kotak Mahindara, a Mumbai-based money manager, has a fund dedicated to government securities. Prakesh Dalal, head of marketing for the Kotak Mahindra Mutual Fund, which was launched in December, said: "It is a bonanza for gilt funds and we expect fresh money to come in."

    Watson Wyatt merges Dutch office with Brans

    AMSTERDAM, Netherlands -- Watson Wyatt Worldwide is merging its Dutch operation with leading Dutch actuarial firm Brans & Co. in a major push into the Netherlands.

    Brans & Co., regarded as a premier actuarial firm, will add 100 employees to Watson Wyatt BV's 15. The merged Watson Wyatt Brans & Co. will be headed by Jan Oor, chairman of Brans & Co.

    The combined investment consulting practice, which will number about 10 staffers, will be headed by Paul van Aalst, head of asset consulting at Brans & Co.

    Brans & Co. will continue to cooperate with KPMG in the Dutch market. The Dutch actuarial firm decided to join Watson Wyatt's international network following the latter's purchase of some KPMG offices in the United States.

    The combined firm will have offices in Amstelveen, Eindhoven, Rotterdam and Hoofddorp.

    Pioneer negotiates to buy out Indian partners

    CHENNAI, India -- Pioneer Management is negotiating to buy out its Indian partners in the Chennai-based Kothari Pioneer AMC.

    Pioneer and Kothari each hold 47.5% of the $2.5 million equity of the company. Other domestic financial institutions own the remaining 5%.

    Vivek Reddy, chief executive of Kothari Pioneer, confirmed the two parties have held preliminary talks on the issue.

    Sources in Kothari Pioneer said the two partners have had good relations; Pioneer officials would like to boost their stake given the joint venture's strong performance in managing technology stocks. The Infotech Fund launched by Kothari Pioneer in August has returned more than 120% since inception.

    Another fund, Kothari Blue Chip, returned 26.6% during the same time period.

    In addition, the Indian government has proposed granting tax benefits to equity mutual funds.

    Edinburgh enters Norwegian market

    EDINBURGH, Scotland -- Edinburgh Fund Managers PLC is breaking into the Norwegian retail market.

    The Edinburgh-based manager will offer four of its open-end investment company's equity sub-funds through Terra Finans, a marketing and distribution syndicate formed by 84 Norwegian savings banks.

    EFM will offer U.K., Europe (ex-U.K), U.S. and global stock funds through the syndicate.

    Bass consolidates custody with State Street

    WEST BROMWICH, England -- The Bass PLC Pension Plans, with L2.1 billion ($3.4 billion) in assets, have consolidated custody with State Street Bank and Trust Co., London.

    Previously, either the funds' money managers or external custodians provided custody. William M. Mercer, London, was the consultant.

    Recommended for You
    Read the print edition of P&I
    Read the print edition of P&I
    How low is low? Projections say it's not low enough
    How low is low? Projections say it's not low enough
    FINRA honors Wharton's Olivia Mitchell with Ketchum Prize
    FINRA honors Wharton's Olivia Mitchell with Ketchum Prize
    Private Markets
    Sponsored Content: Private Markets

    Reader Poll

    July 29, 2022
    SEE MORE POLLS >
    Sponsored
    White Papers
    Gaining Momentum: Where Next for Trend-Following?
    The market opportunity in U.S. residential mortgage-backed securities
    Credit Indices Evolve with Enhanced Data Inputs
    Hedge Funds 2.0: Back to the future
    How Has 2022's Carnage Reshaped Global Stock and Bond Markets?
    Crossroads: Politics, Inflation, & Bonds
    View More
    Sponsored Content
    Partner Content
    The Industrialization of ESG Investment
    For institutional investors, ETFs can make meeting liquidity needs easier
    Gold: the most effective commodity investment
    2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios
    Ten ways retirement plan professionals add value to plan sponsors
    Gold: an efficient hedge
    View More
    E-MAIL NEWSLETTERS

    Sign up and get the best of News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    Subscribe Today
    August 1, 2022 page one

    Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors.

    Subscribe
    Connect With Us
    • RSS
    • Twitter
    • Facebook
    • LinkedIn

    Our Mission

    To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market.

    About Us

    Main Office
    685 Third Avenue
    Tenth Floor
    New York, NY 10017-4036

    Chicago Office
    130 E. Randolph St.
    Suite 3200
    Chicago, IL 60601

    Contact Us

    Careers at Crain

    About Pensions & Investments

     

    Advertising
    • Media Kit
    • P&I Content Solutions
    • P&I Careers | Post a Job
    • Reprints & Permissions
    Resources
    • Subscribe
    • Newsletters
    • FAQ
    • P&I Research Center
    • Site map
    • Staff Directory
    Legal
    • Privacy Policy
    • Terms and Conditions
    • Privacy Request
    Pensions & Investments
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • Topics
      • Alternatives
      • Consultants
      • Coronavirus
      • Courts
      • Defined Contribution
      • ESG
      • ETFs
      • Hedge Funds
      • Industry Voices
      • Investing
      • Money Management
      • Opinion
      • Partner Content
      • Pension Funds
      • Private Equity
      • Real Estate
      • Russia-Ukraine War
      • SECURE Act 2.0
      • Special Reports
      • White Papers
    • Rankings & Awards
      • 1,000 Largest Retirement Plans
      • Top-Performing Managers
      • Largest Money Managers
      • DC Money Managers
      • DC Record Keepers
      • Largest Hedge Fund Managers
      • World's Largest Retirement Funds
      • Best Places to Work in Money Management
      • Excellence & Innovation Awards
      • WPS Innovation Awards
      • Eddy Awards
    • ETFs
      • Latest ETF News
      • Fund Screener
      • Education Center
      • Equities
      • Fixed Income
      • Commodities
      • Actively Managed
      • Alternatives
      • ESG Rated
    • ESG
      • Latest ESG News
      • The Institutional Investor’s Guide to ESG Investing
      • ESG Sustainability - Gaining Momentum
      • Climate Change: The Inescapable Opportunity
      • Impact Investing
      • 2022 ESG Investing Conference
      • ESG Rated ETFs
    • Defined Contribution
      • Latest DC News
      • DC Money Manager Rankings
      • DC Record Keeper Rankings
      • Innovations in DC
      • Trends in DC: Focus on Retirement Income
      • 2022 Defined Contribution East Conference
      • 2022 DC Investment Lineup Conference
    • Searches & Hires
      • Latest Searches & Hires News
      • Searches & Hires Database
      • RFPs
    • Performance Data
      • P&I Research Center
      • Earnings Tracker
      • Endowment Returns Tracker
      • Corporate Pension Contribution Tracker
      • Pension Fund Returns Tracker
      • Pension Risk Transfer Database
      • Future of Investments Research Series
      • Charts & Infographics
      • Polls
    • Careers
    • Events
      • View All Conferences
      • View All Webinars
      • 2022 Retirement Income Conference
      • 2022 Managing Pension Risk & Liabilities
      • 2022 WorldPensionSummit