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Paribas opens Parvest India

The French bank has established Parvest India, its financial services operation through partnership with Sundaram Asset Management.

india Updated: Jan 18, 2006 20:05 IST

French bank BNP Paribas has established Parvest India, its first financial services operation through its partnership with Sundaram Asset Management.

The BNP Paribas said Parvest India offers investment opportunities in the growing Indian market, which it sees as currently one of the most investors friendly markets in the world having enjoyed more than 7% economic growth in 2005.

The new investment vehicle will invest in shares or other comparable securities issued by companies having their registered office in India or conducting their business there. 70% of investments will be in large cap stocks in the fastest-growing economic sectors.

The remaining 30% will be invested in small and mid-cap stocks, to take advantage of niche opportunities.

The investment process is based on macro-economic analysis with a sector overview in order to identify the best investment opportunities and the most promising themes. Parvest India will be managed by BNP Paribas AM UK and advised by Sundaram AM.

First Published: Jan 18, 2006 20:05 IST