AIG Investment sees 40 % growth in India this year

New Delhi, Apr 10 (UNI) AIG Investments, an asset management arm of American International Group Inc, today said it eyes 40 per cent growth in the country this year.

''We expects to grow at around 30-40 per cent this year,'' company Managing Director Ravi Mehrotra told reporters on the sidelines of launch of AIG World Gold Fund here.

The fund is an open ended fund which will invest in companies engaged in the extracting, processing and marketing of gold through an international fund.

''The primary investment objective of the Scheme is to provide long term capital appreciation by investing predominantly in units of AIG PB Equity Fund Gold based in Zurich,'' he said.

The New Fund Offer will be open for purchase from 15 April to May 14 and will re-open for ongoing purchase/redemption no later than June 12.

Speaking at the launch AIG Country Head (India) and Chief Executive Sunil Mehta, said ''Keeping in mind the strong fundamentals of Gold as an asset class, this fund would be an ideal supplement to our existing range of innovative investment products.

In addition, the launch further reaffirms AIG's commitment to India where we currently operate across eight businesses.'' AIG Investments is a global leader in asset management with extensive capabilities in equities, fixed income, hedge, private equity and real estate investments.

Member companies of AIG Investments manage nearly 753 billion dollars in assets (including about 622 billion dollars of AIG-affiliated assets) and employ over 2,000 professionals in 45 offices around the world as of December 31, 2007.

UNI MP PBB AS2002