The Wealth Company has launched a new dollar-denominated fund in GIFT City, offering non-resident investors simplified access to India’s market with potential tax benefits, marking a strategic shift towards attracting global wealth into Indian assets.
The Wealth Company has launched a new fund from GIFT City in India aimed at giving eligible non-resident investors, including Non-Resident Indians, dollar-denominated access to the country’s mutual fund and ETF market, according to a company announcement carried by PR Newswire. The new vehicle, called the Wealth Company IFSC Fund of Fund, is a Category III alternative investment fund housed in the Gujarat International Finance Tec-City International Financial Services Centre.
The firm says the open-ended structure is designed as a single entry point to a wide range of Indian strategies, spanning equity funds, sector plays, bond funds, hybrid products, gold and silver ETFs, index strategies and specialised investment funds, subject to the fund mandate. It adds that eligible overseas investors will not need to complete a separate foreign portfolio investor registration with the Securities and Exchange Board of India, a potential simplification for family offices, institutions, accredited investors and wealthy individuals based outside India.
The company is also highlighting possible tax advantages, though these depend on the investor’s circumstances and whether the fund meets the conditions for treatment as a specified fund. In the announcement, it said certain distributions and capital gains may be exempt from Indian income tax for eligible non-resident investors, and that some investors may also benefit from reduced Indian tax-filing and Permanent Account Number requirements if prescribed conditions are met. The firm cautioned that treatment in the investor’s home jurisdiction would still need separate advice.
Madhu Lunawat, the company’s founder, said in the announcement that the aim was to make India a long-term wealth allocation for Indians living abroad rather than a market that feels hard to reach from overseas. Unmesh Kulkarni, who heads products at the firm, said the fund would handle selection and rebalancing across more than 1,600 products and different market cycles. The launch comes as The Wealth Company, part of the Pantomath Group, has been broadening its product line-up this year, including active mutual fund launches, a large- and mid-cap fund and a systematic investment strategy branded WSIF.
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