ALLIANZ PREDICTS INDIAN FUND MANAGEMENT JV DEAL IN FOUR WEEKS

A DEAL that would see Allianz establish a joint venture fund management business in India is expected to be completed within four weeks. But in an interview with Reuters, Douglas Eu, chief executive officer, Asia Pacific for Allianz Global Investors, did not name the joint venture partner which is expected to help build the brand in India. Allianz is already active in India through its Bajaj Allianz Life Insurance business which it operates in partnership with Bajaj Auto. And Eu told Reuters he was optimistic this latest joint venture agreement could be signed in the next four weeks. He added the new venture would aim to reach a break-even level of assets under management of more than $1bn within two years.