Daiwa to float offshore fund

Mumbai, July 26 | Updated: Jul 27 2006, 05:30am hrs
Given the rising Japanese investor interest in Indian markets, global investment bank, Daiwa Securities SMBC plans to roll out an offshore service sector fund in the next six months. Kenjiro Noda, deputy president, Daiwa Securities SMBC said, "We have seen strong investment demand from Japanese investors and it may be wise for Indian issuers to involve the Japanese investors in any of their future financing activities. Hence, we plan to set up a fund. However, we havent decided the size of the fund."

The Japanese firm also plans to set up an asset management company (AMC) in the near future.