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Nippon India gets nod for portfolio management services in Gift City

NAM India currently operating 5 funds for Japan including Fixed Income, Equity, Real Estate and Tech Venture Capital fund and other mandates in collaboration with asset managers in Australia, Taiwan etc. Photo: iStockPremium
NAM India currently operating 5 funds for Japan including Fixed Income, Equity, Real Estate and Tech Venture Capital fund and other mandates in collaboration with asset managers in Australia, Taiwan etc. Photo: iStock

  • NAM India manages offshore funds through its subsidiaries in Singapore & Mauritius and, also has representative office in Dubai thereby catering to investors across Asia, Middle East, UK, US, and Europe

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Nippon Life India Asset Management Limited (NAM India) on Friday said it has got approval from International Financial Services Centres Authority (IFSCA) to carry out portfolio management services (PMS) through a branch office in International Financial Services Centre (IFSC) in India.

Currently, the GIFT IFSC is the maiden international financial services centre in India. Prior to the establishment of IFSCA, domestic financial regulators, including Reserve Bank of India, Securities and Exchange Board of India, Pension Fund Regulatory and Development Authority (PFRDA) and Insurance Regulatory and Development Authority of India regulated the businesses in IFSC.

“NAM India has been managing and advising global flows through various funds and mandates (including SWFs) and catering to investors across Asia, Middle East, UK, US, & Europe. We are currently operating 5 funds for Japan including Fixed Income, Equity, Real Estate and Tech Venture Capital fund and other mandates in collaboration with asset managers in Australia, Taiwan etc. Our focus is to become a gateway for global investments into India and we believe GIFT IFSC is an important step as it will further strengthen and accelerate global allocations into India. We will continue our endeavour to bring more foreign flows and continue leveraging Nippon Life global network towards the same," said Sundeep Sikka, ED and CEO, Nippon Life India Asset Management.

NAM India manages offshore funds through its subsidiaries in Singapore & Mauritius and, also has representative office in Dubai thereby catering to investors across Asia, Middle East, UK, US, and Europe.

“NAM India continues to add value to investors by expanding its reach and presence in unique locations to service global clients by leveraging Nippon Life Insurance global network," the AMC said in its statement.

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