US based AIG Global Investment Group (AIGGIG), which already has some exposure into the Indian real estate market, is rolling out India focussed real estate fund through the portfolio management service (PMS) platform within a next few months.

Saurabh Sonthalia, chief executive officer of AIG Global Asset Management Company (India) Pvt Ltd, said: "We have a team on ground to look into investments in real estate. The team has been investing in real estate projects in India for the last 14 months. We want to put it together and wrap into a fund in the next three-four months."

Besides being one of the largest real estate developers across the world, AIG insures a wide range of Companies in the real estate industry including real estate investment trusts, fiduciaries and trusts, property management firms, real estate developers and commercial property owners.

"We plan to launch a few more products this year," said Sonthalia. According to sources, the company, which managing assets to the tune of Rs 3,500 crore, plans to roll out schemes in sectors such as commodities.

AIGGIG has also filed offer document with the regulator for an offshore fund to invest in gold and precious metal mining firms. "The investment will primarily be in gold mining Companies. However, it will also invest in other precious metals," he said.

The company has recently launched AIG Infrastructure and Economic Reform Fund, an open-ended equity scheme to invest in Companies, which will benefit from potential investments in infrastructure and economic reforms.

The fund will invest 80-100% in equity and equity-related securities and the rest in debt and money market instruments. The fund will remain fully invested up to 95% in equity and equity-related securities. It will have only 5% in short-term debt and money market instruments to meet short-term liquidity requirements of the scheme.


Financial Times
Jan 14, 2008
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