Sep 14, 2008

Goldman Sachs Asset Management comes India to launch MF

01 Sep 2008 | 16:21

Goldman Sachs Asset Management comes India to launch MF

Goldman Sachs Asset Management L.P. (GSAM), has received approval from
the Securities and Exchange Board of India (SEBI) to start a
wholly-owned asset management and mutual fund business in India. The
approval has been granted to Goldman Sachs Asset Management Company
(India) Pvt. Ltd., a subsidiary of The Goldman Sachs Group, Inc. (?GSG,
Inc.,?), to act as the Investment Manager of the Goldman Sachs Mutual

senior management team appointed to spearhead the asset management
operations of Goldman Sachs Asset Management in India is led by Mr.
Adam Broder as Chief Executive Officer and Mr. Prashant Khemka as Chief
Investment Officer.

Mr. Khemka said, ?It is our goal to emerge
as a world class asset manager in India, by drawing synergies from our
global expertise and combining them with our proven risk management
techniques to deliver strong and consistent results for our investing
clients. India is amongst the fastest growing economies in the world,
with a robust and growing savings and investment pool.?

Mr. Broder, ?We are delighted to have received the Mutual Fund approval
from SEBI so promptly. India is one of the most important countries to
our Asian business and we have a long-term strategic commitment to this
market. We are confident that our experienced team, innovative product
set, long standing industry experience and client focused culture gives
us a unique vantage point from which to establish a leading position in
the Indian asset management industry.?

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