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Goldman Sachs MF gets SEBI approval

Leading global investment powerhouse enters Indian fund business

Goldman Sachs Asset Management L.P.(GSAM), has received regulatory approval from the Securities and Exchange Board of India (SEBI) to start a wholly-owned asset management and mutual fund business in India.

The 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.”

Added 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.”