Goldman Sachs is in talks with WisdomTree, a US-based exchange-traded fund asset manager, to sell its Indian mutual fund business for about INR1.2bn ($18.98m).
If the deal materializes, Goldman Sachs will likes of ING and Morgan Stanley who had opted to sell than compete with entrenched Indian leaders.
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Goldman Sachs mutual fund business, which is led by Prashant Khemka, also includes a central public sector ETF that was launched last year.
Goldman Sachs has acquired business the mutual fund business from Benchmark Asset Management in July 2011.
Wisdom Tree already runs an India-focussed ETF, with assets of over $2bn.
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