PRUDENTIAL-ICICI FUNDS TURN AROUND
Article Abstract:
Mutual fund schemes, ICICI-Power and ICICI-Premier, have been outperforming the market ever since ICICI entered into a joint venture with Prudential, an insurance, pension fund and asset management firm of the UK. The net asset value of the two funds have improved and have also outperformed the BSE-200 substantially. The two mutual funds had been showing negative returns since inception. (khr)
Comment:
Mutual fund schemes, ICICI-Power & ICICI-Premier, have been outperforming market ever since ICICI entered into JV w/ co, India
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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MFs CAN SUBSCRIBE TO GDRs
Article Abstract:
The Government of India is to permit domestic mutual funds to subscribe to American Depository Receipts (ADRs) and Global Depository Receipts (GDRs). The Reserve Bank of India (RBI) has announced that Indian mutual funds can invest up to $500 million in foreign securities. This will give the domestic mutual funds huge arbitrage opportunities which was hitherto denied to them. (uh)
Comment:
Inida: Govt permits domestic mutual funds to subscribe to American Depository Receipts & Global Depository Receipts
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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