Under this partnership, Credit Suisse will become the exclusive distributor of HDFC AMC’s investment products outside India, and HDFC AMC will be Credit Suisse’s exclusive partner in India.
The two firms will also collaborate on new product offerings for international investors who are interested in investing in India.
HDFC AMC currently manages $19.6bn in its mutual fund assets, second largest amongst India’s asset managers.
Credit Suisse’s Asset Management division managing director and head of Asia Pacific and emerging markets Neil Harvey said that this alliance gives Credit Suisse’s clients access to India, one of the fastest growing and most attractive markets in the world.
HDFC Asset Management managing director and CEO Milind Barve said that Credit Suisse has a strong global presence, a deep distribution network and global product structuring expertise, which will enable HDFC to meet the ever-expanding investment needs of offshore investors.
