State Street in talks to buy stake in Indian mutual fund: Report

State Street Investment Management is in talks to acquire a stake in an Indian mutual fund as it seeks to tap into the nation’s $900 billion asset management industry, according to a person familiar with the matter.

The world’s fourth-largest asset manager will share its technology with the Indian firm to develop quantitative strategies, the person said, asking not to be identified as the discussions are private. Separately, State Street plans to offer model portfolios made of foreign stocks and exchange traded funds through local investment platform Smallcase, in which the asset manager already holds a stake, the person said.

A partnership with an Indian fund manager would give State Street, which has about $5 trillion in assets, an easy access to local investors in the world’s fourth-b