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ALLIANCE CAPITAL TO RETAIN OWNERSHIP OF INDIAN ENTITY.

AsiaPulse News

| February 04, 2003 | COPYRIGHT 2003 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

MUMBAI, Feb 4 Asia Pulse - Seeking to set speculations at rest while reaffirming its commitment to Indian operations, Alliance Capital Management LP has said it would retain its ownership interest in Alliance Capital Asset Management (India) Pvt Ltd and support it as an ongoing asset manager in the market place.

Following a review of strategic alternatives and evaluating all options of operations in the country, Alliance Capital Management said "we will continue to manage and invest through the India liberalisation fund and purchase of securities for our other foreign intitutional investment sub-accounts".

Samir Arora would continue to act as chief investment officer of the fund in India, which started operating eight years ago, and remains head of the Asian emerging market equities for ...

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