New schemes offer eligible Indian residents access to emerging markets and provide NRIs and foreign investors with routes to invest in Indian equities, with a minimum investment of $500
Aditya Birla Sun Life Asset Management Company (ABSL AMC) has launched two retail fund-of-funds schemes through its wholly owned subsidiary at Gujarat International Finance Tec-City (GIFT City), expanding investment options for eligible Indian residents, non-resident Indians (NRIs) and overseas investors.
The two schemes, ABSL Emerging Market Equity Fund (Outbound) and ABSL India Growth Fund (Inbound), are the first retail offerings from Aditya Birla Sun Life AMC International (IFSC) Ltd at GIFT City’s International Financial Services Centre (IFSC), according to an official announcement.
The Emerging Market Equity Fund aims to generate long-term capital appreciation by investing primarily in the ARGA Emerging Market Equity Fund and other funds focused on emerging markets. Eligible Indian residents can invest through the Reserve Bank of India’s Liberalised Remittance Scheme (LRS), while eligible Indian companies can use the Overseas Portfolio Investment (OPI) route.
The open-ended scheme builds on the asset manager’s earlier emerging-market offerings, providing investors with a route to diversify their portfolios beyond domestic markets.
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The India Growth Fund, meanwhile, is designed for eligible NRIs and foreign investors seeking exposure to Indian equities
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It will invest in equity-oriented schemes managed by Aditya Birla Sun Life Mutual Fund, including exchange-traded funds (ETFs) and index funds
The fund will allocate investments dynamically across different schemes, sectors, market capitalisations and investment themes. Both offerings invest through underlying funds rather than directly purchasing individual shares.
The minimum initial investment in the new schemes is $500, with additional investments starting at $100 in multiples of $100.
Aditya Birla Sun Life AMC managing director and chief executive A Balasubramanian said the subsidiary would help the company develop global investment capabilities from India. The company plans to expand its range of international investment products through the IFSC platform.
ABSL AMC established its presence in GIFT City through a branch in 2022. The launch of the two schemes marks an expansion into retail investment products under the IFSC regulatory framework.
The funds provide additional cross-border investment options, although investors should assess market volatility, currency movements, fees, tax implications and redemption conditions before investing.
