Outlining an aggressive plan to expand its presence in India, Mirae Asset Global Investment Management (India) CEO Arindam Ghosh told visiting Indian journalists here that the funds range from offshore to hybrid funds and the Global Commodity Stock Fund would be launched shortly.
The open ended equity fund will invest in equity and equity-related securities in the commodities business, subject to necessary regulatory approvals, Ghosh said.
The fund will focus on firms directly or indirectly associated with the commodities business and hence can benefit from the growth potential of this segment, he said.
"We are aggressively pursuing our plans to make deep inroads into the Indian mutual fund market. The proposed new offering subject to regulatory approval will provide investors the opportunity to take advantage of the rising demand of commodities globally and the long term growth potential that this asset class offers," Ghosh said.
"In terms of fund management, we would be leveraging on the expertise and experience of our international affiliates for managing the overseas portfolio component," he added.
The Mirae Asset is planning to offer four domestic equity, four offshore and one hybrid fund. The objective is to provide investors a range of schemes to choose from depending on their financial goals, Ghosh said. The products will cater to the mass market as well as niche segments of investors, he noted.