The Indian insurer aims to be highly selective this year in its equity investments given the muted earnings growth outlook, but retains faith in the long-term prospects of the asset class.
Institutional investors from the country enjoyed AUM gains due to a mixture of demonetisation and a lack of other investment avenues, says the CIO of SBI Life Insurance.
The State Bank of India and Macquarie have appointed Varun Bajpai and Praveen Gupta to senior management positions in their soon-to-be-established India infrastructure fund.
The joint fund has an initial commitment of $60 million and will focus on financial institutions outside of Japan.
Macquarie, SBI and the International Finance Corporation, as a cornerstone investor, plan to contribute a total of $450 million to start the fund, which is expected to launch by the end of June.
Softbank Investment and India's SBI Capital Markets to launch a $100 million India-focused venture capital fund.