Manulife Asset Management

Each partner commits to invest Rs 1,250 cr in the first five years of new venture

Joint venture to be oriented towards retail assets, deeper penetration

Amid uncertainty about global economic growth, investors are looking for markets that are driven by domestic demand, have room for lower interest rates

Foreign investors have pumped more than $11 billion into Indian equities this year on bets there will be political stability and more room for a majority government to push for economic reform

The deal will value the AMC at 10.4 per cent of its asset size

India has been among the best-performing markets globally in 2017, say Geoff Lewis, Rana B Gupta