MUMBAI: Consultancy firm Mercer plans to offer advisory services on Indian fund managers and investments in Asia's third-biggest economy, a top official said on Monday.
The firm has appointed two analysts and expects to hire four more this year to track India's 33-member fund industry and will roll out the service by May, Rashmi Mehrotra, business leader for investment consultancy in India, told reporters in an interview.
"We will start studying the Indian managers. Once we work out that this story makes sense, then we will start advising our overseas clients on how much to invest in here," she said.
Mehrotra said her team would identify investment themes on the basis of their interactions with fund managers and advise clients on their allocation to that particular theme.
India's five-year bull run backed by record fund inflows and strong corporate earnings has lead to good performance by local equity funds and has attracted global investors, channelling big flows into the Rs 5.5 trillion domestic mutual fund industry.
As many as 40 Indian equity funds were part of the list of the world's 100 top-performing stock funds of 2007, as per global fund tracking firm Lipper. Over the 10-year period ended December 2007, seven of the world's top 10 funds were from India.
"Everyone in the market knows that China and India you can not ignore. We now need to have presence on the ground to start studying the market personally," she said, adding Mercer already provided intelligence on emerging market managers. Going forward, the firm would also advise Indian clients on overseas managers. Mercer, which is involved in consulting, outsourcing and investment services, is a subsidiary of Marsh & McLennan Cos Inc.
The firm has appointed two analysts and expects to hire four more this year to track India's 33-member fund industry and will roll out the service by May, Rashmi Mehrotra, business leader for investment consultancy in India, told reporters in an interview.
"We will start studying the Indian managers. Once we work out that this story makes sense, then we will start advising our overseas clients on how much to invest in here," she said.
Mehrotra said her team would identify investment themes on the basis of their interactions with fund managers and advise clients on their allocation to that particular theme.
India's five-year bull run backed by record fund inflows and strong corporate earnings has lead to good performance by local equity funds and has attracted global investors, channelling big flows into the Rs 5.5 trillion domestic mutual fund industry.
As many as 40 Indian equity funds were part of the list of the world's 100 top-performing stock funds of 2007, as per global fund tracking firm Lipper. Over the 10-year period ended December 2007, seven of the world's top 10 funds were from India.
"Everyone in the market knows that China and India you can not ignore. We now need to have presence on the ground to start studying the market personally," she said, adding Mercer already provided intelligence on emerging market managers. Going forward, the firm would also advise Indian clients on overseas managers. Mercer, which is involved in consulting, outsourcing and investment services, is a subsidiary of Marsh & McLennan Cos Inc.
Source- Economic Times
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