MUMBAI (Reuters)- International and domestic financial firms are queueing up to launch mutual funds in India, lured by attractive fees and rising valuations in Asia’s third-biggest economy, and to counter the impact of a sharp fall in broking fees.
At least six brokerages are awaiting regulatory approval to break into the 33-member Indian funds industry, assets of which are forecast to more than triple to $520 billion (264 billion pounds) by 2015, according to the Boston Consulting Group.
Players are tapping into rising savings as the economy booms and where double-digit salary hikes are common in sectors such as real estate, information technology and financial services.
