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India Infoline MF Biz From Fiscal End

The company is looking to go it alone in the new venture

Brokerage firm India Infoline Ltd is planning to launch its mutual fund at the end of the current fiscal (2009-10) after having got the necessary nod from the authorities.

According to its Executive Director, R Venkataraman: "We have got our first-level approval and we are in the midst of getting the other approvals as well. We should be in a position to launch our mutual funds business by the end of this fiscal."

Unlike some other new and old fund houses, India Infoline is not looking for any joint venture partners, trusting in its abilities to carry the whole exercise off to a successful conclusion, Venkataraman elaborated.

Understandably, since the company has built up its reputation in equity through its stellar research abilities, its fund offerings will lean more towards that area of investment.

In equity, the sector that the company intends to focus on, according to Venkataraman is, "Retail, since it has immense potential".