Avendus Capital, the Indian financial services firm, has selected Thomson Reuters as its content solutions provider to help grow its wealth management business in the country.

Thomson Reuters has built a platform for Avendus that combines the agency's Thomson Reuters Knowledge Direct market data feed and ThomsonONE.com desktop -- a combination that enhances the productivity of the advisory and research functions in wealth management firms.

Avendus has been stepping up its game in the sector what with growing local and international investment interest, particularly with the influx of non-resident Indians looking to spend their money onshore. In a recent research by business consultancy firm Bain & Co, the number of high net worth individuals in India has also grown at a rate of 11 per cent every year since 2000 to over 115,000.

"Our objective at Avendus Wealth Management is to create a world class platform with innovative solutions," said Kartik Kini, Avendus' chief administrative officer, in a statement.

"With Thomson Reuters as our content solutions provider, we will be able to provide our clients with best-in-class market data and extensive research, which will allow us to bring innovative products to the market faster."

Avendus' clientele ranges from small fast growing technology firms to large international BPO players and established private equity funds. Besides a strong network of relationships in India, Avendus works with clients in US, Europe and Asia Pacific.