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VEDANTA MASS MEDIANew ICICI fund targets investors in Gulf
 


            

 

  
            New ICICI fund targets investors in Gulf

 



     Dubai, Jan 23: India's leading private sector bank ICICI has chosen Dubai for the global launch of a fund that will focus on India's infrastructure and real estate sectors.

 

     A lot of investors from the Gulf are keen on investing in the country's infrastructure which would need nearly USD 500 billion in the few years.

 

     ICICI Group global private clients unveiled the 'IOPM Infrastructure and Real Estate Fund', a first of its kind offshore close-ended thematic fund. ICICI Bank is the sole arranger for the fund, which would be available for ICICI Bank global private clients on a private placement basis.

 

     Investment advisors to the fund would be under ICICI Bank's asset management arm in India, ICICI Prudential Asset Management Co (IPAMC), headed by ICICI Prudential AMC Chief Investment Officer Nilesh Shah.

 

     Launching the fund in Dubai, Ashish Kehair, head - products and strategy, global private clients, ICICI Group, said infrastructure and real estate are two of the most promising sectors in the Indian economy.

 

     "With a staggering USD 500 billion planned investment in infrastructure sector in the next four years, and USD 50 billion investments in the real estate sector in the next three years, these two sectors will together propel the Indian economy into a different stratosphere and ensure double-digit GDP growth," he said.

 

     "We believe this fund presents the opportunity to participate in the Indian growth story and further capture the high growth rate in infrastructure & real estate sector. The fund will invest directly into listed equity related securities of Indian industries from the infrastructure and real estate sectors," he added.

 

 

     Bureau Report

 


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International Yoga Day 21 June 2015
International Yoga Day 21 June 2015


 

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