HSBC Global Asset Management is planning to launch retirement and pension fund in the country by early next year, a top company official said. The company, with domestic asset fund business at $1.3 billion at present, is also looking launch of more managed solutions in the country.
India-centric funds of the fund house, which is doing business in the country for 12 years, are currently valued at $3.5 billion. Moreover, it is also the managers of EPFO mandate since 2008.
“We are planning to launch a retirement and pension fund in the country either by the year-end or early next year,” HSBC Global Asset Management chief executive officer Ravi Menon told reporters here on Wednesday. “However, let me add here that these plans are subject to regulatory approval and are still at a discussion stage as of now,” he said.
The company is also looking to bring in some foreign funds to the country. “As a foreign asset manager, we would like to bring in some foreign funds to the country,” he said, adding "We will continue to offer capital protection funds which are very, very successful abroad.”