Fund houses plan retail-focused schemes at Gift City for overseas play

Tax perks, relaxed norms, and global appetite drive retail shift

At least five mutual fund (MF) houses, including Mirae Asset Investment Managers (India) and Tata Asset Management, are planning to launch retail schemes in the Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC) to tap into non-resident Indians (NRIs) and local individuals seeking overseas exposure.

 

These would be the first retail schemes from the financial hub, which has so far attracted interest mainly from alternative investment funds.

 

While two fund houses have firmed up their plans and are expected to launch schemes in the coming months, sources said three more have approached the International Financial Services Centres Authority