KOCHI: The Mutual fund endorsement by Qatar-based Doha Bank and Tata
Asset Management, particularly for non-resident Indians will set in
motion early next year, Mr. R Sethuraman, Chief Executive Officer of
the bank announced.
According to the CEO "The approval from regulatory bodies in the
two countries is being awaited,"
No less than 30 per cent of the fund, said to be the foremost of its
kind, would be deployed to fund infrastructure projects in Kerala. The
other areas that the bank would be interested in investing are Telecom
and real estate.
This strategic relation between Doha Bank and the Kochi-based Investnet
is entering an active phase, he said. The bank and its associates have
taken 80-per cent equity stake in Select Securities Ltd, the holding
company for Select Group of companies, which owns the brokerage network
under the brand name 'Investnet'.
This is the bank's first investment in India. The name of the holding
company Select Securities Ltd has been changed to 'Doha Brokerage &
Financial Services'.
In the annual general meeting that was held the previous evening, the
members sanctioned the appointment of Mr Sethuraman as a Director on
the Board of the Company. He would act as Chairman and Mr. Prince George
will be the Managing Director.
