The Wealth Company introduces a new open-ended Category III fund structure in GIFT City, offering non-resident investors a streamlined, dollar-denominated access route to India’s diverse mutual fund market and strategies.
The Wealth Company has launched a new fund structure in GIFT City aimed at giving eligible non-resident investors a single, dollar-denominated way to access India’s mutual fund market, according to the company. The open-ended Category III alternative investment fund is designed to bundle exposure to a wide range of Indian strategies, including equity, fixed income, hybrid funds and exchange-traded funds, under one professionally managed vehicle.
The company said the structure is intended for non-resident Indians, family offices, institutional allocators and other accredited investors who want exposure to India without going through separate overseas investor registration steps. Madhu Lunawat, founder of The Wealth Company, said the aim was to make India easier to access for Indians living abroad, while Unmesh Kulkarni, the group’s product head, said the fund would handle selection and rebalancing across a market with more than 1,600 schemes.
The launch comes as GIFT City continues to market itself as a tax and regulatory gateway for overseas investors. Wealth North says the International Financial Services Centre is treated as offshore for many purposes, allowing some foreign-currency investing and potentially simpler tax treatment. The Wealth Company said its fund is expected to qualify as a specified fund under the Income Tax Act, although any benefits will depend on meeting statutory conditions and on each investor’s own circumstances.
The move also places the company in a still-small but growing domestic asset-management business. Financial Express says The Wealth Company Mutual Fund manages roughly ₹1,428 crore across 10 schemes, while ETMoney puts assets at about ₹1,311 crore across nine schemes as of late March. That suggests the group is still relatively modest in size, even as it looks to use GIFT City to reach overseas Indians and other non-resident investors seeking exposure to India’s domestic fund industry.
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