Leading financial services company JPMorgan has increased its India equities team by appointing six more people in Mumbai. It also said that the firm’s specialist global sales team for Indian cash equities would be located in Mumbai.
Indian equities have maintained a strong trend with the Sensex growing 1.3% since January, as rising incomes have prompted investors to buy equities in Asia’s third largest economy. Robust economic fundamentals have also attracted foreign investors who have poured $3 billion so far into Indian equities. The Indian economy has been expanding at 9% annually, considered the fastest after China.

JPMorgan is also keen on the Indian real estate sector. JPMorgan Property Fund, which had mobilised over $300 million for the Indian real estate, is planning to build a residential project in Chennai for Rs 400 crore.
The project is to be developed jointly with Chennai-based realty developer Arihant Foundations & Housing. The firm said it has a proprietary database of local fund managers and is tracking more than 450 Asia-focused private equity managers.
VIA: Economic Times