DSP Merrill eyes asset base of $20 bln by 2009

New Delhi, Aug 23 (UNI) DSP Merrill Lynch today said it will actively strengthen its presence in the country and expand its product portfolio, while touching an asset base of 20 billion dollars by 2009.

''The economic growth and a spur in the number of high net worth customers will drive the asset base of the company, Currently, we manage about 6.5 billion dollars of assets in the country,'' company's Managing Director Head Global Private Client Pradeep Dokania told reporters here today.

He said the company will aggressively strengthen its presence in India. Targeting the high net worth individuals, it will soon introduce a number of products.

''There is a 20 per cent rise in high net worth individuals. We have lined up a number of products for this group,'' Mr Dokania said.

The company has already launched Trust services and DSP Merrill Lynch Wold Gold Fund this year.

DSP Merril Lynch is also mulling to double the number of headcounts from 250 to 500 by 2009, a majority of which will include financial advisors.

It will launch its asset management office in Delhi this week, besides, a number of offices will be rolled out in Chennai, Bangalore, Kolkata and subsequently in tier II cities like Chandigarh and Ludhiana.

The company is a leading wealth advisory, capital markets and financial services provider. Currently, in India it offers a wide range of products and services, including Trusts, Retirement Planning, Stuctured Products and access to global investment products.

UNI