The fund house is betting big on exchange traded funds (ETF) and believes it has the strongest back-end to be the best in this space. In an interview with Mint, Swarup Mohanty, vice chairman & CEO, Mirae Asset Investment Managers (India) discussed upcoming RBI policy, GDP growth, changing risk profile of investors, plans in GIFT … Read more
The International Financial Services Authority (IFSCA), which regulates GIFT City, has proposed a reduction in the minimum ticket size for portfolio management services (PMS) from $150,000 to $75,000, or about ₹64 lakh at current exchange rates, according to a consultation paper released on Monday. This brings the minimum ticket size for PMS closer to the … Read more
The government will enable pooled private equity fund structures through VCCs, a system popular in tax-friendly jurisdictions such as Singapore and Mauritius. Mint explores the details of VCCs and how they are likely to be attractive to overseas investors. What are variable capital companies? Unlike typical funds where investors share risks and rewards uniformly, a … Read more
The answer is yes as long as the money is not directly invested in equities. The Union Budget 2024-25 proposed that “retail schemes and exchange-traded funds (ETFs) set up in Gujarat International Finance Tec-City, or GIFT City, will now enjoy tax exemptions along similar lines as available to specified funds”. “Now retail funds in GIFT … Read more
The Reserve Bank of India has allowed resident Indians to open foreign currency accounts in Gift City (IFSC near Gandhinagar, Gujarat) for purposes permitted in the Liberalised Remittance Scheme (LRS). Earlier, these accounts were limited to investing in securities in Gift City and education-related payments. This broader scope for remittances can be a game-changer for … Read more
The fund is a close-ended Category II alternative investment fund (AIF). It has a term of 4.5 years, which can be extended by another year with the consent of two-thirds of its investors. It will feed into the ARGA Emerging Market Equity Fund. ARGA is a US-based asset manager with about $15 billion worth of … Read more