Daiwa Securities plans India Equity Fund for Japanese investors

Business Standard reports that Daiwa Securities SMBC Company Limited, the investment banking joint venture between two of Japan’s largest financial groups, is planning to launch an India Equity Fund to enable Japanese investors invest in India’s emerging market. The fund likely to be launched within by 2007 would invest only in the listed stocks. Daiwa had earlier raised $750 mn of Japanese funds for Indian markets. The current value of the fund stood at $1 bn following the growth in the market.