The Wealth Company, part of Pantomath Group, has introduced a new fund vehicle in GIFT City IFSC for eligible overseas investors, including non-resident Indians (NRIs).
Named The Wealth Company IFSC fund of fund, the open-ended Category III Alternative Investment fund is denominated in US dollars.
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It is structured to give investors access to a professionally managed portfolio linked to India’s mutual fund and exchange-traded fund market.
The vehicle can allocate across equity-focused schemes, sector-specific strategies, debt funds, hybrid products, gold and silver ETFs, index-based strategies and SIFs.
It has been set up for non-resident participants, allowing eligible investors to access the structure without separately going through the SEBI FPI registration process.
The offering is aimed at eligible global family offices, institutional allocators, accredited investors and HNI/UHNI non-residents.
It has been established as an IFSC-based Category III AIF and is expected to qualify as a “Specified Fund” under the relevant provisions of the Income-tax Act, 2025, subject to meeting the prescribed conditions.
For eligible non-resident investors, payouts from the fund and capital gains from transfer or redemption of units may be exempt from Indian income tax, depending on the applicable statutory requirements.
The company added that eligible non-resident investors meeting the prescribed conditions may also be able to avail of relaxations related to PAN and the filing of an Indian income-tax return, including in cases where they have no other income taxable in India and where investor information and tax-deduction requirements are met.
It said these provisions depend on the fund meeting the conditions applicable to a specified fund, as well as the circumstances of each investor.
The fund may draw interest from investors in jurisdictions including the UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, Oman, Uganda and Mauritius.
The Wealth Company founder Madhu Lunawat said: “India’s growth has stopped being a story that Indians only watch from abroad. We want an Indian living overseas to think about India as part of their long-term wealth portfolio and not as a market that is difficult to access from where they live.”
