Domestic financial services major Edelweiss Group has tied up with UK-based Sun Global Investments to offer full service solutions in rupee fixed income markets — primary and secondary — as well as US dollar denominated Indian debt across UK, Europe and Asia.
These bonds will help Indian issuers manage currency risk while also offer international investors convenient access to Indian debt markets.
“United Kingdom is an emerging global financial hub for rupee bonds and the partnership with Sun Global Investments will enable us to immediately extend our reach as well as relationships across UK, Europe and Asia,” Edelweiss Group chairman Rashesh Shah said in a statement.
“The partnership is a significant value addition to Edelweiss’ leading Indian debt franchise and will help us offer comprehensive end to end debt solutions to clients,” Shah added.
Sun Global Investments CEO Mihir Kapadia noted that Indian debt is relatively attractive compared to bonds in other emerging markets debt on account of the country’s strong macroeconomic position and that more and more investors are seeking high quality India investments.
“The partnership will enable us to leverage our combined fixed income capabilities and enable quality Indian issuers access a diverse portfolio and a wide investor base,” Kapadia said, adding that high grade credit companies from the public and private sector would be the main issuers of these bonds.
With an asset base of around USD 5 billion, Edelweiss Group offers services across credit, housing finance, financial markets, wealth and asset management, commodities and life insurance.
On the other hand, Sun Global advises institutional investors, family offices, corporate and high net worth individuals on investment strategies in the public markets.