PPFAS Alternate Asset Managers IFSC opens a new office at GIFT city
PPFAS Alternate Asset Managers IFSC
, a wholly owned subsidiary of Parag Parikh Financial Advisory Services Limited, inaugurated its new office today at
GIFT City
(Gujarat International Finance Tec-City), Gandhinagar, Gujarat. The new office will serve as the hub for the firm's global and domestic alternative investment offerings.
#Pahalgam Terrorist Attack
PM Modi-led 'Super Cabinet' reviews J&K security arrangements
Pakistan's General Asim Munir is itching for a fight. Are his soldiers willing?
India planning to launch military strike against Pakistan within 24 to 36 hours, claims Pak minister
With the necessary infrastructure, team, and regulatory groundwork already established, the company is well-positioned to launch its inbound fund as soon as the regulatory approvals are in place. Furthermore, the firm will provide outbound fund structures and Portfolio Management Services (
PMS
) from its GIFT City base, according to a press release.
Also Read |
Akshaya Tritiya: How gold ETFs performed in last 10 calendar years
Best MF to invest
Looking for the best mutual funds to invest? Here are our recommendations.
View
Details
»
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Access all TV channels anywhere, anytime
Techno Mag
Undo
The inbound fund will be a
fund of funds
(FOF) that serves as a feeder into the existing mutual fund scheme "
Parag Parikh Flexicap Fund
". It targets NRIs and foreign nationals seeking exposure to India. The benefits of this fund include the fact that there is no need for a PAN number, no requirement to open an NRO/NRE account, and no FPI license.
Repatriation is not restricted, as funds are invested in US Dollars and currency risk is eliminated. Under the IT Act, any gains from unit transfers of the Fund are exempt from tax, and no TDS is deducted.
Live Events
The outbound fund will enable resident Indian investors to use the Liberalised Remittance Scheme (LRS) limits and remit US dollars to invest internationally. Since the RBI Limit for the asset management industry was exhausted in February 2022, investors have wanted to invest abroad. The exact structure of this scheme is being explored, and the firm will reveal it as and when it is crystallised.
'We are excited to operationalise our presence in GIFT City. This marks a significant milestone for our alternate asset management journey and strengthens our ability to cater to both domestic and global investors,' said Mr. Nirmal Bari, Director and Principal Officer at PPFAS Alternate Asset Managers IFSC
'Our office here will allow us to bridge global investment strategies with Indian expertise, and we look forward to bringing value-driven, transparent solutions to our clients,' he added.
Also Read |
MF Tracker: HDFC Small Cap Fund turns Rs 10,000 SIP to Rs 1.14 crore in 17 years
'The expansion to GIFT City aligns with PPFAS's long-term vision of building a robust alternative investment platform that leverages the IFSC's regulatory benefits and global connectivity.' said
Rajeev Thakkar
, Director, PPFAS Alternate Asset Managers IFSC.
PPFAS Alternate Asset Managers IFSC Pvt. Ltd. remains committed to its investor-first philosophy and disciplined investment approach. The firm will share further updates on product offerings and timelines as it gears up for the formal launch of its inbound fund.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
27 minutes ago
- The Hindu
ICDRI 2025: PM Modi outlines key global priorities to strengthen disaster resilience, early warning systems, coordination
The seventh year of the International Conference on Disaster Resilient Infrastructure (ICDRI), organised by the New Delhi-headquartered Coalition for Disaster Resilient Infrastructure (CDRI), was held on June 6 and 7 in Nice, France. This is the first time the conference was held in Europe with the CDRI as the co-chair. ICDRI 2025 is aligned with the United Nations Office for Disaster Risk Reduction (UNDRR) Global Platform on Disaster Risk Reduction (GPDRR) in Geneva, and third U.N. Oceans Conference (UNOC3), in Nice. This year's focus is on coastal communities, which contribute roughly $1.5 trillion to global GDP annually — a figure projected to rise to nearly $3 trillion by 2030. In addition, nearly 90% of goods moved globally are transported by sea. Addressing virtually, Prime Minister Narendra Modi on June 7 outlined key global priorities to strengthen disaster resilience, the need for early warning systems and coordination. Major disasters Highlighting the theme of the conference, 'Shaping a Resilient Future for Coastal Regions,' the Prime Minister underscored the vulnerability of coastal regions and islands to natural disasters and climate change. Citing recent disasters, including Cyclone Remal in India and Bangladesh, Hurricane Beryl in the Caribbean, Typhoon Yagi in Southeast Asia, Hurricane Helene in the United States, Typhoon Usagi in the Philippines, and Cyclone Chido in parts of Africa, he emphasised that these disasters had caused significant damage to human lives and property, reinforcing the need for resilient infrastructure and proactive disaster management. 'With its past experiences with devastating disasters, including the super-cyclone of 1999 and the tsunami of 2004, India has adapted and rebuilt with resilience, constructing cyclone shelters across vulnerable areas and contributing to the establishment of a tsunami warning system benefiting 29 countries,' Mr. Modi said. The CDRI is working with 25 Small Island Developing States (SIDS) to build resilient homes, hospitals, schools, energy systems, water security measures, and early warning systems. Mr. Modi talked about the importance of integrating disaster resilience courses, modules, and skill development programmes into higher education to build a skilled workforce equipped to tackle future challenges. 'There is a need for a global digital repository to document best practices and learnings from countries that have faced disasters and rebuilt with resilience. Disaster resilience requires innovative financing; we need to create actionable programmes to ensure developing nations have access to necessary funds as the third priority,' he added. On India's recognition of SIDS as Large Ocean Countries, the Prime Minister emphasised the need for special attention to their vulnerabilities. 'The construction of infrastructure that remain steadfast against time and tide is key; there is a need for resilience in development and with global efforts a strong and disaster-resilient future for the world can be built.' Welcoming African Union as a new member of CDRI, P.K. Mishra, Principal Secretary to Prime Minister Narendra Modi and co-chair of the CDRI, announced the African Union Commission as the newest member of the coalition. 'Fifty-four members from different countries have joined the CDRI and are bound by a common belief that resilience must be embedded in the very foundations of development.' Gaston Browne, Prime Minister of Antigua and Barbuda, said, 'Resilient infrastructure is not just a policy option — it is a necessity for survival. We believe that resilience begins not at the shoreline but in the minds and systems we build.' Rachel Kyte, U.K. Special Representative for Climate, said, 'As climate-fueled disasters escalate, insurers are pulling out, raising rates, and narrowing coverage. It is a pressing global issue, especially urgent for developing economies.' Announcements at the conference included the awarding of research grants for 53 projects spanning 21 countries, as well as a call to action for accelerating infrastructure resilience in small island nations. The emphasis was on the urgent need for global collaboration and investment. About 37% of the world's population lives within 100 km of the coast, where the population density is twice the global average. While all coastal areas face growing challenges, SIDS are especially vulnerable because of their remoteness and isolation. CDRI Director General Amit Prothi said, 'Coastal resilience is essential for safeguarding lives, livelihoods, and economies. Being delivered in Europe for the first time, in partnership with the Government of France, the 7th edition of CDRI's annual conference will again foster inclusive dialogue and forge action-oriented partnerships to advance the cause of disaster-resilient infrastructure. Through our IRIS programme, we are supporting 24 projects across 25 SIDS, driving sustainable and inclusive infrastructure development.' CDRI was launched by Mr. Modi at the U.N. Climate Action Summit in September 2019 and is a major global initiative playing a leadership role in climate change and disaster resilience matters. CDRI released the working paper on 'Infrastructure Resilience in Small Island Developing States'. The paper provides an assessment of infrastructure risks in SIDS, offering policymakers guidance on multi-hazard threats, expected losses, and a resilience framework integrating financial, institutional, governance, nature-based, and technological solutions for sustainable adaptation.
Indian Express
30 minutes ago
- Indian Express
Jaishankar to visit France, Belgium from June 8
External Affairs Minister S Jaishankar is travelling to France and Belgium from June 8 to 14, days after he visited Germany. The visit is important since a multi-party political delegation also visited France and Belgium to canvas support for India's stance on Pakistan-sponsored terrorism. Jaishankar will first travel to Paris and then to Marseille. During this visit, he will travel to Paris and Marseille where he will hold bilateral discussions with his counterpart Minister for Europe and Foreign Affairs of France, Jean Noel Barrot, besides engaging with the country's senior leadership. He will also participate in the inaugural edition of the Mediterranean Raisina Dialogue which is being held in the city of Marseille. The Ministry of External Affairs said India and France have completed 25 years of strategic partnership. 'Our relations with France are rooted in deep trust and commitment, and our two countries cooperate closely across all domains of strategic and contemporary relevance besides sharing similar outlook on many regional and global issues,' it said in a statement. In the second leg of the visit, he will travel to Brussels. Here he will carry out talks with the EU as well as Belgian counterparts. During the visit, Jaishankar will hold a strategic dialogue with the EU High Representative and Vice President Kaja Kallas, and will engage with the senior leadership from the European Commission and the European Parliament. The MEA statement said: 'India-European Union strategic partnership has strengthened over the years across diverse sectors and got a big boost with the first-ever visit of the EU College of Commissioners to India in February this year.' During his visit to Belgium, he will hold bilateral consultations with the Deputy Prime Minister and Foreign Minister of Belgium, Maxime Prevot and also meet the senior leadership of Belgium. He will interact with the members of the Indian community. 'India and Belgium share warm and friendly relations along with a very robust economic partnership. Today the collaboration between the two countries spans various domains like trade and investment, green energy, technology, pharmaceutical, diamond sector and strong people to people ties,' the MEA said. The ministry said that the EAM's visit is expected to further deepen India's friendly relations with the European Union, France and Belgium and give renewed momentum to cooperation in diverse areas. Jaishankar met visiting UK Foreign Secretary David Lammy on Saturday, and said that India follows a policy of 'zero tolerance against terrorism' and expects its partners to understand that Delhi will never 'countenance' the equivalence of perpetrators and victims. This message will be conveyed to counterparts in Belgium and France as well. This was the first visit by a Foreign minister from a P-5 country to India, after the India-Pakistan hostilities last month. Prime Minister Narendra Modi is also scheduled to travel to Canada for the G7 leaders' summit on June 15-17. He will meet his counterparts from France, Germany, UK and the EU, among others during the visit.
Time of India
30 minutes ago
- Time of India
Inside Putin's India pivot: Why Russia is trying to woo New Delhi into alliance with China
As US President Donald Trump publicly lashes out at Vladimir Putin for dragging out the Ukraine war, Moscow is quietly retooling its Asia strategy putting India front and centre in hopes of countering growing Western influence. While Trump's frustration with Putin mounts, the Kremlin has ramped up arms deals and diplomatic outreach to New Delhi, aiming to revive the once-promising Russia-India-China (RIC) troika as a foil to the Quad. Trump's irritation with Putin has grown as the Kremlin delays a ceasefire. While Kyiv reportedly accepted Trump's earlier 30-day truce proposal, Russia refused, insisting on terms that would force Ukraine to surrender territory not even under Russian control. Trump has since offered to host peace talks, but Moscow's demands, including US recognition of Crimea, have drawn accusations from experts like former ambassador Michael McFaul, who called them 'poison pills' meant to derail diplomacy. This has forced Putin to rekindle old alliances as a means to 'fight, fight, fight' against the US influence. From arms deals to trilateral summits, Russia is intensifying efforts to woo New Delhi, hoping to revive the Russia-India-China (RIC) dialogue as a counterweight to Western influence. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like No dark spots, 10 years younger! Just take this from Guardian URUHIME MOMOKO Learn More Undo 'India-Russia defence deals rubbed US the wrong way' The situation became more tricky for New Delhi when US secretary of commerce Howard Lutnick delivered a forthright assessment of recent tensions in the India-US relationship, pointing to certain Indian policies that 'rubbed the US the wrong way.' These include New Delhi's continued purchase of military equipment from Russia and its participation in the BRICS grouping, which Lutnick characterised as an attempt to 'not support the dollar and dollar hegemony. ' That's a way to kind of get under the skin of not really the way to make friends and influence people in America US Commerce Secretary Howard Lutnick 'That's not really the way to make friends and influence people in America,' Lutnick said, noting that President Trump 'calls that out directly,' and the Indian government is now 'addressing it specifically.' Despite such differences, Lutnick struck an optimistic tone, calling India's economy 'extraordinary' and praising its 'amazing' human capital and growth. He said both countries are working towards a trade agreement and that 'you should expect a the not too distant future.' Lavrov's India pitch Russian foreign minister Sergey Lavrov, speaking in Perm on Friday, revealed new efforts to woo India. He claimed Moscow was told India joined the Quad alliance, which includes the US, Australia and Japan, purely for economic cooperation. But Lavrov warned that the alliance is being militarised behind the scenes. 'In practice, other countries from the Quad are already trying, already insisting on organising naval and other military exercises,' Lavrov said. 'And I'm sure that our Indian friends can see this provocation clearly,' he said. Also read: 'US, other Quad countries trying to force India into military alliance rather than just trade,' claims Russia Lavrov's remarks came a day before US Defence Secretary Pete Hegseth's announcement that the US is deepening its military relationship with India. Hegseth cited joint exercises like Tiger Triumph and Towson Sabre as evidence of growing strategic coordination in the Indo-Pacific. He also pointed to the Indo-Pacific Logistics Network and the PIPER initiative as efforts to integrate the region's defence infrastructure. 'Rookies talk strategy, pros talk logistics,' Hegseth said, signalling the US goal of building a sustained and interconnected defence presence in Asia. He emphasised that Trump's foreign policy was 'grounded in common sense and national interest' and stressed that a resilient alliance of like-minded democracies remains America's greatest strength against Chinese ambitions. But for Russia, these moves are part of what Lavrov describes as a Western ploy to 'divide and conquer,' a phrase he says President Putin himself recently used. Lavrov warned that the rebranding of the Asia-Pacific into the 'Indo-Pacific' was designed to isolate China and undermine ASEAN. Rekindling older alliances Perhaps the most significant signal from Lavrov was Russia's renewed push for the revival of the Russia-India-China (RIC) trilateral dialogue. The forum, originally proposed by former Russian Prime Minister Yevgeny Primakov, has met over 20 times and served as a platform for cooperation in trade, finance, and foreign policy. 'Now that… an understanding has been reached between India and China on how to calm the situation on the border, it seems to me that the time has come to revive this RIC troika,' Lavrov said. He framed the grouping as a valuable mechanism that could balance out the influence of Western-led coalitions like the Quad. India's strategic tightrope However, India's position remains complex. For years, India has enjoyed a privileged status as one of Russia's largest arms importers. Moscow provided India with cutting-edge weaponry, sometimes even before it was deployed in the Russian military itself. From India's strategic viewpoint, the RIC format carries other risks. Beijing continues to occupy a key position in South Asia's strategic balance, primarily through its deepening alliance with Islamabad. India remains concerned that any trilateral cooperation would be undermined unless China reconsiders its longstanding military and nuclear support for Pakistan. Moreover, the RIC format's perceived anti-American leanings are another sticking point. With Indo-US relations having deepened under both Prime Minister Narendra Modi and President Trump, especially on defence and technology cooperation, New Delhi may find it increasingly difficult to align with Russia and China in ways that could appear contrary to its current trajectory. 'Wishful thinking by Russia' Professor Rajan Kumar, from the School of International Studies at Jawaharlal Nehru University while speaking with the , said that Russia's push for a revived RIC format may be 'wishful thinking by Russia, and it flies away in context of the real world and the current geo-political landscape.' He agreed, however, with Foreign Minister Lavrov's warning that the West seeks to 'divide and conquer' the India–China relationship. On whether the RIC would serve as a platform for direct mediation with China, Professor Kumar noted that 'though India and China are members of several international organisations, like the BRICS and SCO, a direct mediation with China is not possible. Particularly after the Ladakh incident in 2020, after which New Delhi's trust with Beijing has disappeared.' 'India maintains strategic autonomy' Asked whether India must align with either the US or Russia, he warned that 'given the current policies of the Trump administration, India cannot depend on the United States. As a consequence of the US president's policy the world has moved towards protectionism, and in the context of defence production this has ruled out the possibility of joint production of weapons.' He further noted India's longstanding tradition of strategic autonomy, adding, 'India has always maintained the policy of strategic autonomy, and it doesn't have the policy of involving other countries in its policy of China, and India sees China as a rival country. I believe in the coming time the tensions between New Delhi and Beijing are likely to escalate.' On whether Russia taking military equipment from China during its war with Ukraine would have impact on India's defence dealings with Russia, Professor Kumar observed: 'Yes, we do have a certain degree of dependence on Russian defence equipment, as was recently seen in the India-Pakistan war, with the successful use of S-400 on the defensive front and the BrahMos missile on the offensive. But yes, we are also trying to diversify our defence, with deals from Israel and France. ' India's balancing act Professor Rajan welcomed India's efforts to boost indigenous defence production, noting that 'one good thing is that India has also ramped up its own defence production and is moving towards becoming a major defence exporter; however, when compared to other countries its defence dealings are still minuscule.' Speaking on how India's close ties with Russia can be leveraged to question China's support for Pakistan, he explained that 'India has repeatedly voiced concerns about both China and Pakistan, especially regarding Islamabad's support for terrorist groups. Yet, India cannot dictate Russian foreign policy, as Moscow is grappling with its own geopolitical constraints. Since the full-scale invasion of Ukraine in February 2022, Russia has faced isolation and sanctions from the West, compelling it to deepen ties elsewhere. India, while strengthening ties with Western democracies, notably refrained from imposing sanctions on Russia and has abstained from UN resolutions condemning Moscow. This stance reflects India's effort to balance relations rather than fully aligning with Western positions. Concurrently, India participates in the Quadrilateral Security Dialogue (Quad) alongside the US, Australia, and Japan, a grouping often viewed as a strategic counterweight to China's influence.' What's the road ahead? India is poised to maintain its careful balancing act. In practice, New Delhi will likely deepen its defence ties with the US expanding logistics cooperation and joint exercises while continuing to source critical systems from Russia wherever gaps remain in its domestic industry. At the same time, India's focus on ramping up indigenous production and forging new partnerships with France and Israel suggests that Moscow's overtures, though acknowledged, will be weighed against broader economic and strategic interests. Whatever shape RIC might take, New Delhi's core priority will remain safeguarding its own strategic autonomy managing great-power competition without becoming dependent on any single capital.
