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PPFAS Establishes GIFT City Operations to Expand Global and Alternative Investment Offerings
PPFAS Establishes GIFT City Operations to Expand Global and Alternative Investment Offerings
Strategic expansion: Parag Parikh Mutual Fund (PPFAS) has expanded into GIFT City (Gujarat International Finance Tec‑City), marking a significant step in its evolution as a global asset manager.
New subsidiary: The firm set up PPFAS Alternate Asset Managers IFSC Pvt. Ltd., a wholly owned subsidiary authorised by the International Financial Services Centres Authority (IFSCA) to manage investment funds from GIFT City.
Dual business structure: Under this model, PPFAS AMC continues to operate domestic mutual funds under SEBI regulation, while the IFSC entity will focus on global and inbound investment products regulated by IFSCA.
Global fund capability: Funds launched from GIFT City are denominated in US dollars and can invest freely in international markets without the overseas investment limits that apply to Indian mutual funds.
Investor segmentation: The GIFT City products are aimed at NRIs and international investors, offering broader options for global exposure; existing domestic mutual fund investors are not automatically shifted into these funds.
Product types: PPFAS plans to launch a range of offerings from GIFT City including funds of funds (FoFs) tracking major global indices such as the S&P 500, as well as other global investment vehicles.
Benefits of GIFT City structure: The IFSC framework allows no caps on international exposure, USD‑based investing without forex conversion losses, and simplified regulatory requirements for NRIs and foreign entities.
Revenue diversification: The new GIFT City business opens additional revenue streams beyond domestic mutual fund inflows, including portfolio management services (PMS) and global fund management for both inbound and outbound strategies.
Positioning: By combining domestic and international product platforms, PPFAS aims to serve a wider investor base and strengthen its presence as an alternative asset manager on both Indian and global stages.
This expansion into GIFT City reflects PPFAS’s broader strategy to leverage India’s international financial hub to offer globally competitive investment products and attract cross‑border capital.
Source: https://unlistedzone.com/ppfas-opens-a-new-gateway-in-gift-city
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