Aditya Birla Sun Life AMC secures IFSCA nod to carry out PMS in GIFT City

Aditya Birla Sun Life AMC (ABSLAMC) was granted approval by IFSCA on 20 January 2022 to carry out Portfolio Management Services (PMS) through a branch office in International Financial Services Centre (IFSC) in India.

Aditya Birla Sun Life AMC (ABSLAMC) will set up a new unit at the Gujarat International Finance Tec-City (GIFT City, Gandhinagar) to grow its international business to expand its reach and service global clients, including NRIs for investing in India.

ABSLAMC is the fourth largest asset manager in the country with presence in over 280 locations pan-India and already has a presence in international markets such as Dubai, Singapore and Mauritius.

Aditya Birla Sun Life AMC (ABSL AMC)'s consolidated net profit jumped 38% to Rs 173.07 crore on a 27.9% surge in total income to Rs 372.19 crore in Q2 September 2021 over Q2 September 2020.

ABSL AMC is the fourth largest asset management companies (AMCs) in India by quarterly average asset under management (QAAUM) since September 2011 and its also the largest non-bank affiliated AMC in India since March 2018. The focus of the company is on consistent investment performance, extensive distribution network, brand, and superior customer service.

ABSLAMC has a pan India presence across 280 plus locations and a total AUM of over Rs 3,12,000 crore under its suite of mutual fund (excluding our domestic FoFs), portfolio management services, offshore and real estate offerings and 7.3 million investor folios for the quarter ending 30 September 2021.

Shares of Aditya Birla Sun Life AMC (ABSLAMC) lost 0.50% to Rs 547.60 on BSE.

Powered by Capital Market - Live News