AIG Asset Wants To Create Niche In India

The recently-launched AIG Asset Management, the Indian mutual fund arm of AIG Global Investment Group, wants to create a niche for itself in alternative assets like private equity, real estate funds and hedge funds. The AMC is the first international fund house to enter India directly without a joint venture with an Indian entity. It also plans to bring a novel strategy to India where the fund house itself invests money in the mutual fund, alongside several retail and institutional investors. AIG Global Investment Group was ranked fifth in the latest list of Fortune 500 companies by assets. AIG AMC'ss first launch will be an equity-diversified scheme (without any specific market cap bias) that is expected to hit the market by May.