Non resident Indians in Qatar will now be able to avail of the products and services of the Birla Sun Life Assets Management Company through its arrangement with the Doha Bank The facility would be offered through the International Relations Centre of Doha Bank, which explores banking and investment requirements of expatriates from different countries in Doha.

Indian mutual funds have been performing progressively, and have yielded better returns than direct equity participation on occasions.

With a strong Sensex prevailing at around 15,000 points, the service from Doha Bank and Birla Sun Life opens up unlimited opportunities for investment for NRIs in Doha.

Since July 2006, 106 mutual funds have bettered the performance of stocks traded on the BSE, infusing fresh life into the assets under management of 32 mutual funds, which add up to Rs.400,000 crore in the first half of 2007 itself.

Performance by mutual funds is expected to go forward and touch the trillion dollar mark by 2015 if the current trend continues. About 20 asset management companies are likely to join the industry to mop up the growing savings and investments of India’s growing middle class.

Studies on India’s growing investment market expect the employee population to touch 500 million by 2015. Considering a conservative GDP growth rate of 6% per annum, savings would appreciate 38%.In real terms, the Indian mutual fund market could rank amongst the largest internationally.

Mutual funds carry an added advantage for NRIs as they offer a choice between repatriablity and otherwise. NRI investments in mutual funds are repatriable in nature, provided the fund is in accordance with Sebi’s guidelines.

Repatriablity is permissible only if the investment is made from inward remittances, or drawn from the NRE/FCNR account of the NRI. The process for investment in mutual funds by NRIs has been simplified by MF companies with online applications.

Besides, the internet arms the investor with information and statistics on the performance of the funds, enabling NRIs to make informed choices on their savings.

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