Credit Suisse Asset Management deal to ease foreign access to India

Credit Suisse Asset Management has signed a strategic agreement with India-based HDFC Asset Management Company, to facilitate access to India for international investors.
By None

Credit Suisse Asset Management (CSAM) has signed a strategic agreement with India-based HDFC Asset Management Company, to facilitate access to India for international investors.

Under the terms of the arrangement, CSAM will become the exclusive distributor of HDFC's investment products outside of India. Both firms will also explore the possibility of developing new product offerings for foreign investors that want exposure to Indian markets.

According to the two firms, the agreement will combine CSAM's strengths in global distribution and product structuring with HDFC's investment experience in the Indian markets. As of Q4 2010, HDFC managed US$19.6 billion worth of mutual fund assets in India.

“We are dedicated to the strategic growth of our Emerging Markets franchise and continue to expand our product offerings to meet the evolving needs of clients. This alliance gives our clients access to India, one of the fastest growing and most attractive markets in the world,” said Neil Harvey, managing director and head of Asia-Pacific and emerging markets at CSAM.

“There is clear evidence of continued interest in India from offshore investors, resulting from high and sustainable growth rates in the country,” added Milind Barve, managing director and CEO of HDFC Asset Management. “Credit Suisse has a strong global presence, a deep distribution network and global product structuring expertise, which will enable us to meet the ever-expanding investment needs of offshore investors.”

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