Foreign investors are increasingly investing in the Indian stock market, and their participation in mutual funds is also growing steadily.
For the first time, ICICI Prudential Mutual Fund has opened a dedicated branch for foreign investors.
Along with this, the company has also launched an India-focused fund and set up a new office in GIFT City, Gujarat.
ICICI Prudential Mutual Fund has opened its branch at the International Financial Services Centre (IFSC), GIFT City.
This branch is registered with the International Financial Services Centres Authority (IFSCA) under the Fund Management category. It will now provide services as a Fund Management Unit (Retail).
Aim of the Fund House
According to ICICI Prudential, the IFSC branch has launched its first managed scheme with the purpose of bringing international capital into India’s financial market.
At the inauguration, Naveen Agarwal, CFO of ICICI Prudential AMC Ltd, said that India is currently undergoing a generational shift in its growth journey. This change is driven by:
Strong demographics
Rapid urbanization
Growing digital economy
Wide-ranging policy reforms
To make use of these opportunities, the fund house has taken this initiative for the first time.
Facilities and Benefits for Investors
The GIFT City branch creates a global entry point for long-term investors who want to invest in India. Through this branch, investors will get access to:
Equity, fixed income, alternative, and hybrid investment options
Better connectivity with global investors
Tax structure benefits available in GIFT City
In this way, the branch is expected to make it easier for foreign investors to participate in the Indian market.
