ABN Amro AMC to launch portfolio management services

Mumbai, Mar 13 (UNI) Mutual funds major ABN Amro Asset Management (India) Limited will soon be launching portfolio management services for its customers, besides declaring dividends in two of its mutual fund schemes.

This was announced by Mr Nikhil Johri, the company's executive director, while addressing a media gathering here today on the occasion of the launch of ABN Amro AMC's new scheme, the ABN Amro Future Leaders Fund.

''The portfolio management services will be targeted at high networth individuals,'' he said, adding that the focus will be on structured products. ''Our application to enter this business is now before SEBI and once we receive its approval, we will launch this business.'' The two schemes for which dividends will be declared are ABN Amro Equity Fund and ABN Amro Opportunities Fund.

Mr Johri said that the new fund offer (NFO) of the ABN Amro Future Leaders Fund, an open-ended equity scheme, will remain open for subscription till April 7, and that units of this scheme will be available for Rs 10 each with no entry load during this period.

''We have rapidly grown the size of our equity assets under management to nearly Rs 1,000 crore in a little over one year and with this launch we should achieve a critical size besides completing our core equity funds suite,'' he averred.

The investment objective of this scheme is to generate long-term capital appreciation by investing primarily in companies with high-growth opportunities in the middle and small capitalisation segment, defined as ''future leaders,'' he said.

''This scheme will capitalise on the under-performance of the mid-cap index,'' Mr Johri said, adding that ''the focus will be on mid-and-small caps with visible growth patterns over the next three-to-five years and which have a dynamic management and entrepreneurial flair.'' UNI JJ KD SKB1922