ABN Amro Likely To Unveil Realty Fund

Mumbai: ABN-Amro Mutual Fund has registered with Securities & Exchange Board of India (Sebi) for a scheme that will invest in real estate companies and leading property companies worldwide. The ABN-Amro Global Property (India) Equity Fund, which awaits the regulator's approval, proposes to invest in foreign equity and equity-related securities through ABNAmro's Luxembourg-based ABN-Amro Global Property Equity Fund. The latter is a diversified, actively managed fund mainly investing in realty companies and top property companies across the globe.The Reserve Bank of India (RBI) permits resident Indians to invest $50,000 per annum overseas. Analysts said, the ABN-Amro scheme was aimed at this segment.