Apr
12

Wall Street Gives Up on India Funds as JPMorgan Joins Exodus

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  • Goldman Sachs, Morgan Stanley have already exited India funds
  • Risk-averse Indian investors prefer gold, property investments

For JPMorgan Chase & Co. and other global firms vying for a share of India’s mutual-fund industry, the world’s fastest-growing major economy has been a land of missed opportunity.

JPMorgan is joining the likes of Goldman Sachs Group Inc., Morgan Stanley and Deutsche Bank AG in exiting India’s 13.5 trillion rupees ($204 billion) mutual-fund market, the seventh international manager to leave in the past three years. Foreign money managers have struggled to build scale in India, accounting for just 8 percent of assets, as they’ve lost ground to homegrown rivals that have been able to weather weak investor demand thanks to deeper sales networks…

Wall Street Gives Up on India Funds as JPMorgan Joins Exodus

 

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