Aditya Birla Sun Life AMC receives approval to carry out Portfolio Management Services from GIFT City

21 Jan 2022 , 03:27 PM

Aditya Birla Sun Life AMC Limited (ABSLAMC) has been approved by IFSCA to carry out Portfolio Management Services through a branch office in International Financial Services Centre (IFSC) in India.

ABSLAMC’s move to set up a new unit at the Gujarat International Finance Tec-City (GIFT City) is a strategic step towards the growth of its international business to expand its reach and service global clients, including NRIs for investing in India.

A Balasubramanian, MD & CEO, Aditya Birla Sun Life AMC Limited said, “This is a significant development in the overall business model of ABSLAMC. Through our GIFT IFSC branch, we will be able to provide investment management and advisory services to prospective and existing clients across Sovereign Wealth Funds, Family Offices, Global Funds, Institutional Investors, High Net worth Individuals, among others. We will also provide investment avenues to Indian investors for making investments in competitive products in IFSC and outside India. ABSLAMC through its GIFT City unit will contribute towards the Government’s initiatives to boost the growth of IFSC in India”

ABSLAMC is the fourth largest asset manager in the country with a presence in over 280 locations pan-India and already has a presence in international markets such as Dubai, Singapore and Mauritius.