BTG Pactual's third party distribution unit has signed an agreement to distribute Reliance Asset Management Singapore (RAMS) to Latin American institutional clients, Citywire Americas can reveal.
RAMS, the offshore fund platform of Indian asset manager Reliance Capital Limited (RCL), manages and advises mandates from global institutional and accredited investors, according to its website. It focuses on Indian equities, alternatives and fixed income.
The first product BTG Pactual plans to distribute to its network across the region is the Ucits India Equities fund, run by Sulabh Jhajharia, according to a statement from the Latin American asset manager.
That vehicle follows the same investment approach as the Reliance Growth Fund. It's the flagship vehicle of RAMS’ parent company, Reliance Nippon Life Asset Management (RNAM), which is, in turn, a subsidiary of RCL.
Run by Sunil Singhania, who also advises the Ucits India Equities portfolio, the Reliance Growth Fund has returned 43.81% in the past three years, while its Citywire-assigned benchmark, the Bombay Stock Exchange 100 Index, has risen 18.41%.
‘India provides an unbeatable combination of economic growth, productivity, favorable demographics and a stable exchange rate, making it our favorite among the larger emerging countries,’ said Ignacio Pedrosa, head of third-party distribution at BTG Pactual.
RNAM ranks as India’s largest asset manager, according to the statement. It ran $55.2 billion as of March 31 across a raft of mutual funds, alternative investment vehicles and managed funds.
‘We felt that it was best to go with local expertise and that’s why we’ve reached an agreement with RAMS, a part of RNAM, which is the country’s leading firm and managers of the most profitable local fund of the last decade.’
Gervais Gua, RAMS’ executive officer, said BTG Pactual has shown a successful track record of raising assets for Ucits vehicles. ‘We look forward to a fruitful partnership with them,’ he added.
One of Latin America's most prominent financial institutions, BTG Pactual runs 120.1 billion reals ($36.22 billion) in assets across the region, according to its website.