Financial Daily from THE HINDU group of publications
Wednesday, Mar 13, 2002
Financial Daily from THE HINDU group of publications Wednesday, Mar 13, 2002 |
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Money & Banking
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Asset Management Companies India Life AMC gets SEBI licence Our Bureau
BANGALORE, March 12 INDIA Life Hewitt, a firm that outsources human resources administration, announced on Tuesday that its investment arm, India Life Asset Management Company (ILAMC), has been granted a portfolio management licence by the Securities and Exchange Board of India (SEBI). The licence makes ILAMC the country's first portfolio manager solely focused on provident and pension funds, and India Life the only comprehensive provider with integrated administration, actuarial and investment capabilities, according to a company release. ILAMC will assist trustees to plan and create investment strategies in line with risk and liability profiles.Mr Amit Gopal, Assistant Vice-President, ILAMC, said, "Provident and pension fund investments have not been a focus area for companies because of the low interest volatility, stable liability profile and absence of credit risk. These are no longer safe assumptions. ILAMC will address these issues through research-based investing and superior execution capabilities".
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