ABSL AMC launches two retail FoFs from GIFT City

Aditya Birla Sun Life AMC International (IFSC) Limited has launched two retail fund of funds (FoFs) from GIFT City, the company said in a press release. The funds are ABSL Emerging Market Equity Fund and ABSL India Growth Fund.

The ABSL Emerging Market Equity Fund is an open-ended thematic FoF that aims for long-term capital appreciation by investing in emerging market funds, predominantly units of ARGA Emerging Market Equity Fund and/or other emerging market funds.

Resident Indians can invest through the Liberalised Remittance Scheme route, and eligible Indian corporates through the Overseas Portfolio Investment route.

The ABSL India Growth Fund is an open-ended diversified FoF that will invest in equity-oriented schemes of Aditya Birla Sun Life Mutual Fund, including ETFs and index funds. It will allocate dynamically across schemes, sectors, market capitalisations and themes.

The minimum initial investment for the offerings is USD 500, with additional investments in multiples of USD 100. Subsequent investments can start at USD 100.

Aditya Birla Sun Life AMC International (IFSC) Limited is a wholly owned subsidiary of Aditya Birla Sun Life AMC and is regulated by the International Financial Services Centres Authority. The AMC established its presence in GIFT City in 2022 through a branch operation.

The new subsidiary will focus on investment solutions that give Indian investors access to global markets, and NRI and foreign investors exposure to Indian equities.

A. Balasubramanian, MD and CEO of Aditya Birla Sun Life AMC, said: “The Emerging Market Equity Fund and India Growth Fund form the initial offerings in this journey, and we intend to progressively build a differentiated suite of global investment solutions from the IFSC.”