Jan 27, 2023

At a later stage, it will also tap into investors from other regions.Ahead of the formal launch of these two verticals, the company also said its senior-most investment leader and chief investment officer Srinivas Rao Ravuri will lead the new international business, while its senior fund manager and head of equities Aniruddha Naha will lead the new AIF business as the chief investment officer for alternates. PTI | Mumbai | Updated: 27-01-2023 21:02 IST | Created: 27-01-2023 21:02 IST Country: SHARE Fund house PGIM India has announced the launch of two new verticals -- international investment advisory arm and alternate investment fund (AIF) business -- from April. PGIM, the investment management business of Prudential Financial Inc, said in a statement on Friday the new business verticals will commence operations from April 1, 2023, subject to regulatory approvals. David Chang, the vice-chairman of PGIM Investments Asia, said our decision to invest in the new businesses in India is aligned with our growth strategy for the region, as we see growing opportunities in both the domestic high-net-worth and retail markets, driven by wealth generation, as well as offshore investments. PGIM India has achieved significant growth over the past few years and the track record of our local leadership and investment talents give us immense confidence in the next stage of growth, he added. Ajit Menon, the chief executive of PGIM India, said the launch of international and AIF businesses completes our offering to domestic investors as well as to international investors who are actively considering India as a portfolio choice. AMCs can offer management and advisory services to foreign portfolio investors, such as sovereign wealth funds, international or multilateral organizations, pension funds, insurance/reinsurance entities and banks among others. Under its new international PGIM will offer advisory services to such potential clients who are looking to invest here. To begin with, it will focus on investors from Asia by leveraging PGIM's global network. At a later stage, it will also tap into investors from other regions. Ahead of the formal launch of these two verticals, the company also said its senior-most investment leader and chief investment officer Srinivas Rao Ravuri will lead the new international business, while its senior fund manager and head of equities Aniruddha Naha will lead the new AIF business as the chief investment officer for alternates. In addition to the elevation of Ravuri and Naha to new responsibilities, the company also appointed Vinay Paharia as its new chief investment officer for equities and fixed-income businesses. All the new positions are effective April 1, the fund house said. (This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.) READ MORE ON: