Deutsche Asset gets Indian green light

Deutsche Asset Management has received its license from the Securities Exchange Board of India (SEBI) to offer asset management products to the Indian market, and has launched four domestic mutual funds. DeAM executives have previously fingered India as their future growth market in the region, along with Korea. India&'s mutual fund market is $26 billion, of which only $4 billion is in the private sector. State Bank of India and Unit Trust of India dominate the rest, but are stru…