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Barclays Capital upbeat on India, to up capital allocation

Barclays Capital upbeat on India, to up capital allocation
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First Published: Sun, Jun 22 2008. 02 05 PM IST
Updated: Sun, Jun 22 2008. 02 05 PM IST
PTI
Mumbai: Barclays Capital is upbeat on the structured financial products space in the country which looks set to double to $2-billion this year from the $1billion of last year, a top company official said.
“There is huge demand for structured financial products in the country and we expect the market to double this year to $2billion,” Barclays Capital’s managing director, Dixit Joshi, told PTI here.
The company confirmed that it would be increasing its capital allocation besides raising its headcount in the country. With more peers entering the Indian market, competition was hotting up. According to Joshi, not only was the market growing rapidly but there was also an increasing awareness amongst Indian investors who were now demanding sophisticated products.
“Investors are now realizing that there are products available that not only protect their capital but also give upside returns,” he said. Barclays Capital’s present customer base comprises of asset managers, security-broking houses, high networth individuals (HNIs), large brokers and private banks.
On its India-strategy, Joshi said that the country features high as one of its priority markets and that their focus will be on expansion.
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First Published: Sun, Jun 22 2008. 02 05 PM IST