Indian Real Estate: Another Realty Fund

By: Propertiesmls

Indian Real Estate: Going Dutch With ABN-Amro As foreign investments in Indian real estate pours in, we have Netherlands ABN-Amro Mutual Fund filing with the capital markets regulator, Securities & Exchange Board of India (SEBI), in the interest of a scheme that will invest in real estate and leading property firms across the globe.

The ABN-Amro Global Property (India) Equity Fund, which awaits the regulator's nod, will invest in foreign equity and equity-related securities through ABN-Amro's Luxembourg-based ABN-Amro Global PropertyEquity Fund. The latter is a diversified, actively managed fund that mainly invests in realty and top property firms across the globe.

Last year saw the market regulator, further liberalising rules to allow mutual funds to launch schemes for investing in overseas equity or equity-oriented schemes, in a move to provide more diversified products to the Indian retail investors.

Following this, Principal PNB Mutual tweaked its existing scheme to invest in equities of emerging markets, while Franklin Templeton launched a scheme that would partly invest in overseas equity. But, nofund house launched a scheme for overseas realty firms. The move by ABN-Amro Mutual Fund coincides with SEBI's own plan to allow India-registered mutual funds to launch real estate funds.

The Reserve Bank of India (RBI) allows resident Indians to invest $50,000 per annum overseas. According to analysts, the ABN-Amro scheme is aimed at this segment, while officials at ABN-Amro were unavailablefor comments, since rules bar them from talking about a scheme before it gets SEBI's approval.

ABN-Amro filings say, the portfolio will invest in the stocks of different countries, but the investment manager of the proposed scheme will ensure that the exposure to each country is limited, to avoid the portfolio being exposed just to one country.

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Source:

India Properties
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