Kotak Mahindra UK (KMUK) has strengthened its Dubai-based investment management team, moving Nitin Jain from Kotak Mahindra Asset Management to its base in Dubai. In Dubai, Jain and his team will have assets of about $230 million under management.

Jain will be fund manager for long-only funds. He has more than 11-years experience in Indian equities. Jain last managed $150 million of assets at Kotak Mahindra Asset Management Company. Prior to Kotak, Jain has worked with SBI Funds Management, IDBI Capital Markets and Fortis Securities. He is an engineer and has a MBA.

Kotak Mahindra Asset Management Company is an advisor to KMUK. KMUK is a subsidiary of Kotak Bank and was the first company owned from India to be registered with the Financial Services Authority in the UK. In December, 2005 it became the first Indian institution to open shop at Dubai International Financial Centre when it opened a branch there.

Dubai was selected as the base for KMUK because it is in a similar time zone to India and it is also geographically close. Kotak has said it plans to increase its international asset management bandwidth to cater to the growing need of international investors for India exposure.