MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, June 22, 2010 Vanguard Not Impressed with India India may have more potential mutual fund shareholders than any other nation, but Vanguard seems less-than-excited about their low-balance accounts. Moneylife, an India-based publication, reports that Vanguard executives visited India recently only leave still "unconvinced of the 'India opportunity'". The publication reports that a number of non-India-based asset managers are taking a look at setting up shop in the country, but that many are less-than-thrilled at the opportunity. The Vanguard team reportedly visited India two weeks ago. "But having reviewed the situation, they have concluded that while the market is interesting, they would rather wait and watch," the report quotes an unidentified CEO of an asset manager who met with the Vanguard team as telling it. Meanwhile, local mutual fund firms have rolled out a score of index mutual funds, including: Taurus Index Fund, IDFC Nifty Fund, IDBI Nifty Index Fund and ICICI Pru's Nifty Junior Index Fund. However, many of these funds are expensive in relation to those in the United States. The typical Indian index fund charges 150 basis points in expenses, according to the report. U.S. headquarted asset managers with operations in India include: Morgan Stanley, Franklin Resources (via Templeton), BlackRock, Pioneer and T. Rowe Price Printed from: MFWire.com/story.asp?s=32562 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |