The approval enables Tata Asset Management to expand its global presence and offer a broader range of offshore investment products.
The GIFT City branch will serve foreign nationals, NRIs, family offices, government entities, and institutional investors.
The move also opens up opportunities for outbound investments by Indian investors under the Liberalised Remittance Scheme (LRS). The company aims to support India’s role in the international financial landscape through its presence in the IFSC.
Tata Asset Management, established in 1994, manages a diverse portfolio of mutual fund products across equity, debt, and hybrid categories. As of April 30, 2025, it has a unique investor base of over 59 lakh folios.
In a separate development, ICICI Prudential Mutual Fund has launched two new schemes—ICICI Prudential Nifty Top 15 Equal Weight ETF and ICICI Prudential Nifty Top 15 Equal Weight Index Fund. The New Fund Offer (NFO) period for both schemes will run from June 10 to June 24, 2025.
These funds aim to provide investors access to the top 15 companies by free-float market capitalisation within the Nifty 50 universe. Each stock in the portfolio carries equal weight, reducing concentration risk and enhancing sectoral diversification.
