Tamil Nadu - Coimbatore   

Wealth management services launched

Staff Reporter

COIMBATORE: Kotak Mahindra Bank launched its wealth management services here on Friday.

According to its Executive Director, C. Jayaram, already 10 cities in the country have this service from the bank, including Chennai, Bangalore and Hyderabad in the South.

It will be launched in Kochi, Jaipur and Kanpur in a month or two.

Under this, a range of eight to 10 services are offered to high net-worth individuals, who have investable assets of Rs. 5 crores or more.

Currently, the bank has overt 2,000 customers in the country who have availed of this service.

Even those in nearby places here such as Tirupur and Salem can utilise this service.

Mr. Jayaram explained that the range of services included mutual fund advisory, direct equity advisory, portfolio management (customised) and even real estate fund.

The first fund raising for the real estate fund was closed a couple of weeks ago and it had raised about Rs. 450 crores (domestic fund raising), he added.

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