In order to mark its entry into the Indian mutual fund industry, Goldman Sachs Asset Management Company (AMC) is all set to acquire Benchmark Asset Management Company, India’s largest exchange traded funds (ETF) player (subject to regulatory approvals).
At present Goldman Sachs AMC has an experienced team of eight persons based in Mumbai, headed by Mr. Prashant Khemka. The team currently provides research for off-shore funds including Indian equities and BRIC (Brazil, Russia, India and China).
India a school going kid also knows that Goldman Sachs and other huge investment banks of USA has played a major role in current US Depression.
Than why government of India wants to appoint this bank to manage the hard earned money of crores of employees of India?
In India we have very good fund managers who can manage this money very well than why Government of India wants to hire overseas fund manager like Goldman Sachs?
Reasons for such a takeover are quite obvious; to gain a foothold in the Indian mutual fund industry and to have a ready-made platform in terms of assets under management. This move is strategic, as the mutual fund industry is facing cut-throat competition.
At present Goldman Sachs AMC has an experienced team of eight persons based in Mumbai, headed by Mr. Prashant Khemka. The team currently provides research for off-shore funds including Indian equities and BRIC (Brazil, Russia, India and China).
India a school going kid also knows that Goldman Sachs and other huge investment banks of USA has played a major role in current US Depression.
Than why government of India wants to appoint this bank to manage the hard earned money of crores of employees of India?
In India we have very good fund managers who can manage this money very well than why Government of India wants to hire overseas fund manager like Goldman Sachs?
Reasons for such a takeover are quite obvious; to gain a foothold in the Indian mutual fund industry and to have a ready-made platform in terms of assets under management. This move is strategic, as the mutual fund industry is facing cut-throat competition.
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