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

Mirae and Tata among fund houses set to offer retail schemes from Gift-IFSC as clarity on regulation and tax drives investor interest in overseas diversification Khushboo Tiwari Mumbai Listen to This Article At least five mutual fund houses, including Mirae Asset Investment Managers and Tata Asset Management, are planning to launch retail schemes in the Gift-IFSC to tap into non-resident investors (NRIs) and local individuals seeking overseas exposure. These would be the first retail schemes from the financial hub, which has so far seen rising interest from alternative investment funds (AIFs). While two fund houses have firmed up their plans for retail schemes and the launch is expected in the next few months, sources said that three more have approached the International Financial Services Centre Authority (IFSCA), a unified regulator for the