More Bahrainis investing in Indian Mutual Funds

Dubai, May 13: Calling India as one of the fastest growing economies in the world today, a senior official of UTI International (UTII) said increasing number of Bahrainis are now investing in Indian Mutual Funds.

UTII Chief Executive Officer Narendra M Joshi said the UTI Mutual Fund, which has 6.75 billion dollar assets under management, has offshore funds in which many high-networth individuals and institutions, such as banks and investment companies from Bahrain, have invested.

Indian equity markets have been witnessing an unprecedented boom in the past few months, touching record levels, a fund manager said.

The UTI funds outperformed benchmark levels returning 67.7 per cent last year while the Bombay Stock Exchange benchmark was 42.7 per cent.

UNI