ABSL AMC launches two retail FoFs from GIFT City
Aditya Birla Sun Life AMC International (IFSC) Limited has launched two retail fund-of-funds (FoFs) from GIFT City: the ABSL Emerging Market Equity Fund and the ABSL India Growth Fund, according to a company press release.
This entity is a wholly owned subsidiary of Aditya Birla Sun Life AMC and operates under the regulation of the International Financial Services Centres Authority (IFSCA).
The ABSL Emerging Market Equity Fund is an open-ended thematic FoF designed to deliver long-term capital growth by investing in funds that target emerging markets. Its primary allocation will be to units of the ARGA Emerging Market Equity Fund and/or other emerging market-focused funds.
Resident Indian investors can participate via the Liberalised Remittance Scheme (LRS), while eligible Indian corporates can invest through the Overseas Portfolio Investment (OPI) route.
The ABSL India Growth Fund is an open-ended diversified FoF that will invest in equity-oriented schemes of Aditya Birla Sun Life Mutual Fund, including ETFs and index funds. It will follow a dynamic allocation approach across different schemes, sectors, market caps and themes.
The minimum initial subscription for these products is USD 500, with top-ups allowed in multiples of USD 100. Subsequent investments can be made starting from USD 100.
Aditya Birla Sun Life AMC first entered GIFT City in 2022 through a branch setup. The new subsidiary is intended to develop solutions that give Indian investors access to global markets, while enabling NRIs and foreign investors to participate in Indian equity opportunities.
Sharing his views on the launches, A. Balasubramanian, MD & CEO of Aditya Birla Sun Life AMC, said that the growth of GIFT City highlights India’s rising importance in global finance and its aspiration to become a key hub for cross-border financial activity. He added that building a presence at GIFT IFSC is not just about expanding the product range, but a strategic move to develop global investment capabilities from India. Through Aditya Birla Sun Life AMC International (IFSC) Limited, the aim is to offer solutions that allow Indian investors to tap global growth and NRI/foreign investors to benefit from India’s growth story, leveraging the firm’s investment experience and the strengths of leading Indian and global managers. He noted that the Emerging Market Equity Fund and India Growth Fund are the first steps in this plan, with a goal to gradually create a differentiated range of global investment offerings from the IFSC.
Source: Cafemutual
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