International Financial Services Centre (IFSC) has given its go ahead to Nippon Life India Asset Management to offer portfolio management services at Gujarat International Finance Tec-City (GIFT) Gift City, Gandhinagar, Gujarat.
With this, the fund house can service global clients. The fund house will be exempted from certain domestic laws; instead, it will follow international practices.
In a press release, Sundeep Sikka, ED and CEO, Nippon Life India AMC said, “Nippon India AMC has been managing and advising global flows through various funds and mandates and catering to investors across Asia, Middle East, UK, US, & Europe. We are currently operating 5 funds for Japan including fixed income, equity, real estate and tech venture capital fund and other mandates in collaboration with asset managers in Australia, Taiwan etc. Our focus is to become gateway for global investments into India and we believe GIFT IFSC is an important step as it will further strengthen and accelerate global allocations into India.”
