Nippon MF, Birla Sun Life receive approval to start PMS at GIFT City

With this, AMCs will be able to offer global funds, NRIs and others investing into India investment management and advisory services

Domestic asset management companies Nippon India AMC and Aditya Birla Sun Life AMC have got approval from the International Financial Services Centres Authority (IFSCA) to carry out portfolio management services from GIFT City.

The move will allow these AMCs to offer global funds, non-resident Indians (NRIs) and others investing into India investment management and advisory services.