Nippon, Reliance launches two funds for Japanese
investors
01/09/2014 15:14
Japan’s second largest life insurance company, Nippon Life Insurance Company, on Monday announced that it has launched two dedicated funds in collaboration with Reliance Group to facilitate Japanese investments into Indian markets, as per the media reports. Also, Nippon restated its commitment to a partnership with Reliance Group for setting up 'Reliance Bank' under an appropriate category of licenses to be issued by the Reserve Bank of India. The two funds launched are equity and bond funds. Further, Nippon and Reliance in a joint statement said that the two groups would actively expand their collaboration and contribute towards strengthening of Indo-Japan relations. Commenting on the launch, Reliance Capital Asset Management Company (RCAM), CEO, Sundeep Sikka said, “The launch of these funds is part of our larger initiative to strengthen the partnership between the two corporations and two countries. These funds will use the collective expertise of our fund managers to help Japanese and Indian investors invest and gain from growth potential in our countries.” Meanwhile, the bond fund would largely invest in permitted Indian government securities and local currency Indian corporate bonds. The fund also has the capability to invest up to a limit (20 per cent) in offshore foreign currency bonds of large Indian issuers and it can purchase securities with duration of 5 years.
01/09/2014 15:14
Japan’s second largest life insurance company, Nippon Life Insurance Company, on Monday announced that it has launched two dedicated funds in collaboration with Reliance Group to facilitate Japanese investments into Indian markets, as per the media reports. Also, Nippon restated its commitment to a partnership with Reliance Group for setting up 'Reliance Bank' under an appropriate category of licenses to be issued by the Reserve Bank of India. The two funds launched are equity and bond funds. Further, Nippon and Reliance in a joint statement said that the two groups would actively expand their collaboration and contribute towards strengthening of Indo-Japan relations. Commenting on the launch, Reliance Capital Asset Management Company (RCAM), CEO, Sundeep Sikka said, “The launch of these funds is part of our larger initiative to strengthen the partnership between the two corporations and two countries. These funds will use the collective expertise of our fund managers to help Japanese and Indian investors invest and gain from growth potential in our countries.” Meanwhile, the bond fund would largely invest in permitted Indian government securities and local currency Indian corporate bonds. The fund also has the capability to invest up to a limit (20 per cent) in offshore foreign currency bonds of large Indian issuers and it can purchase securities with duration of 5 years.
