Oct 27 (Reuters) – India’s asset managers are in discussions to launch a brand new mutual fund product with relaxed danger administration norms however requiring a minimal funding quantity, a mutual fund {industry} physique mentioned on Friday.
“There are deliberations throughout the {industry} for an instrument that caters to buyers who’re on the lookout for an intermediate funding product between mutual funds and portfolio administration providers (PMS),” the Affiliation of Mutual Funds in India (AMFI) mentioned.
PMS merchandise have increased danger methods to generate higher returns and require a minimal funding quantity of 5 million rupees (simply over $60,000).
The {industry} physique mentioned the discussions are at a ‘very nascent stage’ and can undergo the consultative approval course of with the nation’s market regulator.
($1 = 83.2460 Indian rupees)
Reporting by Jayshree P Upadhyay; Enhancing by Savio D’Souza
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