Singapore-based global real asset manager CapitaLand Investment Limited (CLI) has unveiled a target to more than double its funds under management (FUM) in its core market India by 2028, up from S$7.4 billion (US$5.66 billion) as of June 30 2024.

This will contribute to CLI’s global target of achieving S$200 billion in FUM by 2028, states the company, which announced its growth strategies to achieve the FUM target for India as it celebrates its 30th anniversary. 

“India is a strategic market for us and a key contributor to CLI’s overall business,” says Lee Chee Koon, the asset manager’s group CEO, CLI. “India has been one of our fastest-growing markets, where our investments have tripled in the last seven years. 

“With India’s GDP forecast to grow 7% in 2024, and its trajectory to be the world’s third-largest economy in the next five years, the country is attracting demand from global corporations and institutional investors for quality real assets. 

“Given our deep expertise in the country and the strong tailwinds, we are confident of more than doubling our current FUM of S$7.4 billion in India by 2028. This is also aligned with our priority on geographical diversification to achieve better capital rebalancing.”