Doha Bank offers MFs to NRIs

Doha Bank is planning to launch mutual funds in India in an arrangement with Investnet. The bank has acquired a 49% stake in Investnet and the company is undergoing a re-branding exercise, with the Doha Bank CEO taking over the reins as Chairman.

The Securities and Exchange Board of India (SEBI) accorded approval to
the Doha Bank the status of a Foreign Institutional Investor (FII).

Investnet’s target audience would be the NRIs who are seeking investment
opportunities in India. The Bank offers portfolio management schemes customised for NRIs, and has an alliance with 18 mutual fund companies in India.

NRI investors are exploring new avenues of investment
in India.

From a concentration of funds in fixed deposits, NRIs are now investing
in real estate and the stock market that give good returns.