Japan firm launches India fund

Mumbai, Sept. 1: Japan’s Nissay Asset Management, part of Nippon Life Insurance, is launching two India- focused funds that will invest in equity and debt markets, the fund manager stated on Monday.

Reliance Capital will provide advisory services for the two funds, which will raise money from Japanese retail investors and from within Nippon Life Insurance’s general account.

Nippon Life insurance owns a 26 percent stake in Reliance Capital’s fund management business and life in- surance businesses. The two firms also reiterated their plans to launch a bank in India.

— PTI Prime Minister Narendra Modi ( third from left) with Japanese business leaders at a luncheon hosted by the Japan Business Federation in Tokyo on Monday.