Morgan Stanley (NYSE: MS) today announced the appointment of Ritesh Jain as Head of Fixed Income for the Firm's investment management business in India. The hire is part of Morgan Stanley Investment Management's strategy to expand its business and range of products in India's domestic funds market.
Based in Mumbai, Mr. Jain will be the Lead Portfolio Manager for the Fixed Income boutique with overall responsibility for the management of Morgan Stanley Mutual Fund's liquid and fixed income schemes.
"We are focused on expanding our product range, and will shortly launch our first set of fixed income funds," said Anthony Heredia, CEO, Morgan Stanley Investment Management, India.
"Ritesh has a distinguished and consistent track record in the Indian fixed income markets, and his addition strengthens our investment team and capabilities in India."
Prior to joining Morgan Stanley, Ritesh Jain was Head of Fixed Income at Principal PNB Asset Management Company Pvt. Ltd., and was responsible for management of the liquid and fixed income products.
The India Magnum Fund, an offshore fund set up in 1989, marked the entry of Morgan Stanley in the Indian market. In 1994, the Firm launched its first domestic fund, Morgan Stanley Growth Fund (MSGF). MSGF, which was launched as a 15-year close ended fund, was open ended in January 2009. As at January 30, 2009, Morgan Stanley Mutual Fund managed a total of Rs. 1460 crore of assets under its two schemes, MSGF and Morgan Stanley A.C.E. Fund.
Morgan Stanley Investment Management, together with its investment advisory affiliates, has nearly 800 investment professionals around the world and approximately US$399 billion in assets under management or supervision as of November 30, 2008. These entities offer investment management services to a diverse client base, which includes governments, institutions, corporations and individuals.
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600 offices in 37 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.
Media Relations Contact: Noel Cheung, +852 2848 6788