$42-bn UN pension fund warms to India | business | Hindustan Times
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$42-bn UN pension fund warms to India

business Updated: Feb 16, 2011 02:39 IST

In what could give a big push to Indian stock markets, the United Nations and its affiliate agencies want to invest more from their $42-billion (Rs 1,89,000) corpus of pension funds in this country, especially in infrastructure and real estate.

The members of the investment committee of the United Nations Joint Staff Pension Fund (UNJSPF), an expert group that advises on where to invest pension funds, were in India last week and met domestic asset management firms, including those of Asahi Glass, Hero Honda group, Avantha group.

"We are looking more strategically at diversification of our investments, particularly in emerging markets and specifically with regard to more opportunities the fund could take advantage," said Warren Sachs, the UN secretary general’s representative for investment of UNJSPF assets.http://www.hindustantimes.com/Images/HTEditImages/Images/16_02_pg23b.jpg

“The younger age profile (in India) than what China has gives us some confidence that the Indian economy is not just going to grow but probably end up growing as fast as, if not faster than, China. That makes it very interesting for us,” Sachs said.