Aditya Birla Sun Life AMC International (IFSC) Ltd, the wholly owned GIFT City subsidiary of Aditya Birla Sun Life AMC, has introduced two fund-of-funds (FoF) schemes aimed at resident Indian investors seeking international market exposure, as well as non-resident Indians (NRIs) and foreign investors looking to tap into India’s growth opportunities.
The schemes, ABSL Emerging Market Equity Fund (Outbound) and ABSL India Growth Fund (Inbound), represent the subsidiary’s first retail product launches at the Gujarat International Finance Tec-City’s International Financial Services Centre (IFSC).
The ABSL Emerging Market Equity Fund is an open-ended thematic fund-of-funds scheme designed to generate long-term capital appreciation. It will invest primarily in units of the ARGA Emerging Market Equity Fund and/or other emerging market funds. The scheme will offer eligible resident Indians access to global emerging markets through the Liberalised Remittance Scheme (LRS) route. Eligible Indian companies can invest through the Overseas Portfolio Investment (OPI) route.
The ABSL India Growth Fund will invest in equity-oriented schemes managed by Aditya Birla Sun Life Mutual Fund, including exchange-traded funds (ETFs) and index funds. The actively managed scheme will dynamically allocate investments across different schemes, sectors, market capitalisations and investment themes.
The minimum initial investment is $500, while subsequent investments can be made in multiples of $100.
A Balasubramanian, managing director and chief executive officer of Aditya Birla Sun Life AMC, said the IFSC subsidiary would help the company develop global investment capabilities from India.
He said the Emerging Market Equity Fund and India Growth Fund were the first offerings in this strategy, adding that the company plans to gradually expand its portfolio of differentiated global investment solutions through the IFSC.
