Domestic fund managers outdo foreign firms in India

A foreign brand counts for little in the Indian asset-management industry, where global names are often unheard of -- and last year's ban on front-end fees for mutual funds won't make things any easier for overseas firms, says US research house Cerulli Associates The most likely way for a foreign firm to thrive in the onshore Indian market is to tie up with a well-known partner, preferably a bank, says Cerulli in the March edition of its emerging-markets issue, released last week. Do…