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AIG Global launches maiden fund
Special Correspondent
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Plans to expand business in India
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NEW DELHI:
Bullish on India, U.S.-based American International Group (AIG) on Friday indicated its plans to expand its line of business as well as branches network in the country.
"Currently, we operate in eight different areas. We are looking at ramping it up by venturing into mortgage guarantee, asset reconstruction and infrastructure funding businesses," AIG Country Head and Chief Executive, Sunil Mehta, told a press conference here on Friday at the launch of the maiden fund of its asset management company.
AIG will make an investment of $10 million (about Rs. 41 crore) in the fund.
The new fund offer is priced at Rs. 10 per unit (plus applicable entry load) and will be open for purchase from May 3 to May 31.
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