ASK Capital gets Central Bank of Ireland nod to launch India-based fund

ASK Capital has received approval from the Central Bank of Ireland to launch an India-based fund — ASK Indian Entrepreneur Fund — through the UCITS route. ASK is the fourth asset or wealth management firm in India to receive approval for an UCITS (Undertakings for Collective Investment in Transferable Securities) fund. Kotak AMC, Whiteoak Capital and UTI AMC already have such funds.

UCITS is a regulatory framework of the European Commission for management and sale of mutual funds.

"Given the intense regulatory process to have a fund approved as UCITS compliant by a regulator, the UCITS label serves as a