| Saurabh Sonthalia, Managing Director and CEO, India Asset Management Company, AIGGIG, Business Standard, "Next month we will be coming up with our second mutual fund product "" the Liquid Fund." The liquid fund will be an open-ended fund to targeting the short term debt market. |
| The company plans to launch its third product by the year-end. "Our third product will be a Tax Saving Fund, which we plan to launch by December 2007," adds Sonthalia. According to the company, the new funds are in line with the market trends and to provide investors with various options. |
| However, the size of the fund the company plans to raise "" through the Liquid Fund and Tax Saving Fund - is yet to be decided. |
| While through its maiden scheme "" AIG India Equity Fund - the company aims to garner approximately Rs 1,000 to Rs 2,000 crore. |
| The new fund offer opened for purchase from May 3 to May 31. "We will commit $10 million in this fund," says Sonthalia. |
| AIG India Equity Fund is an open-ended diversified equity fund with no biases. The fund has the flexibility to invest across companies without having any bias towards a particular sector, investing style or market capitalisation range. AIGGIG believes that no single sector, market capitalisation orientation or style has outperformed consistently over the long-term. |
| He further said that the company will be investing $10 million for in its maiden fund and in the next two fund approximately $7-10 million will be invested in each of the fund that will be launched by it. |
| With one fund already launched and two more in the pipeline, for the present fiscal 2007-08 the company will be investing approximately $24 "" 30 million in India. The company will bring the fund from its parent company through FII route. |
| AIG is present in eight business lines: life and non-life insurance with Tatas, private equity, consumer finance, asset management, real estate development, aircraft leasing and finance and software development. |
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