AIG Investment sees 40% growth in India this year

New Delhi, Apr 13 (UNI) AIG Investments, an asset management arm of American Intenational Group Inc, said it eyes 40 per cent growth in the country this year.

''We expects to grow at around 30-40 per cent this years,'' company Managing Director Ravi Mehrotra said while launching the AIG World Gold Fund.

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 April 15 to May 14 and will re-open for ongoing purchase/redemption no late than June 12.

Speaking at the launch, AIG Country Head 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.

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