With its recent entry into India, AIG Global Investment Group (AIGGIG) has plans to roll out new schemes in sectors such as real estate and commodities. | |
| "We will not come up with the same investment products offered in the market, under a different name. If and when the regulations permit, we will come with products which are not present in the Indian market space. We might look at coming up with real estate funds for the retail investors. We are a global company and we have the required expertise, which can be brought to the Indian market. Others might include mutual funds schemes that invest in gold and other commodities," Sunil Mehta, country head and chief executive, India, AIG, said. |
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| AIG Capital India, the wholly-owned subsidiary of AIG, holds about 75 per cent stake in Chennai-based Vivek Hire Purchase and Leasing (VHPL). Talking about VHPL, Mehta said AIG Cap has plans to expand its business and might do so through additional infusion of funds in VHPL. |
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| The company recently launched its first mutual fund scheme in India, called 'AIG India Equity Fund', and is likely to launch actively-managed debt funds in the near future, according to Mehta. |
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| AIG plans to enter into distressed assets investments, mortgage guarantee and infrastructure investments in the current year. The company is seriously evaluating various options for entering into these businesses. |
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| Meanwhile, AIG has also entered the Indian mutual fund space by launching AIG India Equity Fund, which will have the flexibility to invest across companies. |
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| Saurabh Sonthalia, managing director and CEO, India asset management company, AIG Global Investment Group, said the AMC had so far done due diligence on 198 companies and the investment decisions would be based on the analytical parameters followed globally. Going forward, AMC may bring in some debt funds and capital protection funds. |
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| Along with new ventures, AIG is present in eight business lines: life and non-life insurance with Tatas, private equity, consumer finance, asset management, real estate development, aircraft leasing and finance and software development. |
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| So far, AIG has invested over $450 million in private equity in India with major exposure in telecom, manufacturing, retailing and IT. |
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| By 2007- end, AIG is planning to operate in 325-350 premises in 140 cities in India with 6,800 employees. |
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