INDIA - Mercer has opened an office in India to research local asset and portfolio management service firms dealing with listed equities.
Tony Cole, business leader for Mercer's investment consulting business in Asia Pacific, said: "As India opens up and invites more foreign investors, it follows that our business establishes a presence on the groups to research investment opportunities for our global institutional and retail intermediary clients."
Mercer has appointed two research analysts in Mumbai and said it planned to hire additional specialists in alternative asset classes.
Cole added: "Our established global practices enable us to hit the ground running and begin to provide meaningful services to Indian investors immediately."
In July 2007, the State Bank of India (SBI), UTI Asset Management and the Life Insurance Corporation (LIC) were appointed to manage part of the R17bn (US$400m) government pension fund.
The consultants also announced it had invited asset managers across all classes to register on its global investment manager research database, GIMD.
Mercer claimed GIMD subscribers accounted for over US$2.9trn of global assets under management.
Cole said a third of subscribers to GIMD were large pension plan sponsors.
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