Japan-based Daiwa Asset Management (DAM) today announced launching its India asset management business.
DAM, the asset management arm of the Japan-based Daiwa Securities Group, manages over 300 funds investing in various asset classes with assets under management of over USD 115 billion.
"The launch of the DAM in India is consistent with our stated strategy of investing primarily in Asia and the faster growing emerging markets. This investment ... Is of strategic importance to the Daiwa Securities Group as it gives us a foothold in potentially, one of the largest retail asset management markets in the world," DAM President Toshiro Ishibashi said in a statement.
In March 2010, the Daiwa Securities Group had announced a buy-out of Shinsei Asset Management (India) Pvt Ltd. Post the completion of acquisition in December 2010, the company has been renamed Daiwa Asset Management (India) Pvt Ltd.
The Group operates in various business segments such as investment banking, brokerage, asset management, and distribution of financial products.
It has presence in 22 global locations across Americas, Europe and Asia and collectively employs about 15,750 people worldwide.
