New Star has announced it is to launch an Indian equity fund in association with Tata Asset Management, a division of the Indian conglomerate that recently bought car manufacturer Jaguar.
The fund is expected to launch within the next three months. It will be managed by Mumbai-based Tata, which has some $6bn of assets under management, and distributed in the UK by New Star. New Star says the launch of an Indian fund is the natural next step from its Heart of Africa fund in accessing what it calls a “new economic world order”. Commenting on the link-up, Farrokh K Kavarana, chairman of Tata Asset Management, said: “Earlier this year we made the strategic decision to make our fund management available to UK retail investors and we are very pleased to be doing so in partnershi...
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