Artha Bharat’s GIFT City Launch: A Game-Changer for Global Investments

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Synopsis of the Article

• In Gujarat’s GIFT City, Artha Bharat Investment Managers IFSC LLP has launched their operations.
• The International Financial Services Centres Authority (IFSCA) has granted the organization a license to function as a Fund Management Entity.
• With an Asset under Management (AuM) of more than Rs 1,100 crore (USD 130 million), Artha Bharat intends to move its largest fund from Mauritius to GIFT City Gujarat.
• The Artha Global Opportunity Fund is a new fund that is currently in the process of being founded and is waiting for regulatory clearance.
• For the establishment of the entity, Cyril Amarchand Mangaldas and CNK Khandwala & Associates offered legal and financial consultancy services.
• Prominent members of the industry, such as Cyril Amarchand Mangaldas and representatives from HDFC Bank, are going to attend the GIFT City Club’s inaugural event.
• As part of its growth strategy, Artha Bharat offers a range of investment products aimed at both Indian and international markets by utilizing GIFT City’s platform.
• Two significant appointments were made public: Madhuri Gurwani as the Compliance Officer and Akshesh Katkoria as the Principal Officer.
• The organization intends to introduce further foreign money from GIFT City, with an emphasis on fixed income, real estate, and commodity arbitrage as investment topics.
• Vistra India will serve as the trustee and administrator of the new fund, and HDFC Bank will serve as the designated depositary participant and custodian.
• The new fund’s tax adviser is Nangia Andersen.

In GIFT City, Artha Bharat Investment Managers IFSC LLP launches their business.

A well-known brand in the investment management sector, Artha Bharat Investment Managers IFSC LLP, has formally opened for business in Gujarat International Finance Tec-City (GIFT City). In an effort to bolster its position in the quickly expanding Indian financial market, the corporation has made a major advancement with the opening of this organization in GIFT City.

Obtaining the IFSCA License: An Important Step

Artha Bharat Investment Managers obtained an essential license from the International Financial Services Centres Authority (IFSCA) before to starting its activities in GIFT City.

With this license, the business can function inside GIFT City as a Fund Management Entity, managing and providing a range of investment products. For Artha Bharat, obtaining the IFSCA license is a significant step toward its goal of reaching more domestic and international investors with its offers.

Transferring the GIFT City Fund, valued at Rs. 1,100 crore

The transfer of Artha Bharat’s largest fund, which has an Asset under Management (AuM) of more than Rs 1,100 crore (about USD 130 million), from Mauritius to GIFT City is among the company’s most important announcements. This fund, which is currently called the Artha Global Opportunity Fund, demonstrates the company’s dedication to taking advantage of GIFT City’s benefits.

Moving the fund to India’s leading financial centre is a part of Artha Bharat’s larger plan to take advantage of the market’s enormous potential while also appealing to international investors.

The Importance of GIFT City: Why the Transition Is Important

The first functioning smart city and International Financial Services Centre (IFSC) in India is called GIFT City, and it is situated in Gujarat. It provides numerous advantages, such as tax breaks, a regulatory environment that complies with international norms, and entry into an expanding financial community. Artha Bharat will be able to take advantage of these benefits by relocating its funds to GIFT City, which will make it simpler to provide creative and aggressive investment solutions. This action is also in line with India’s overarching goal of becoming a major global financial centre.

The Opening Ceremony: A Celebration of Development

On August 9, 2024, the GIFT City Club hosted a historic event marking the start of Artha Bharat’s operations in GIFT City. Several notable people, including dignitaries and professionals in the sector, attended the event. Speakers of note included Mr. Vivaik Sharma, a partner at Cyril Amarchand Mangaldas, Mr. Rajesh Sharma, Executive Vice President of HDFC Bank, and Mr. Sandip Shah, Assistant Vice President of GIFT City. These seasoned business professionals praised Artha Bharat for its forward-thinking decision and emphasized the strategic significance of GIFT City.

Strategic Perspectives from Pioneers in the Field

The speakers at the event offered their perspectives on the advantages and prospects that GIFT City presents to financial institutions such as Artha Bharat.

In his speech, Mr. Sandip Shah stressed GIFT City’s distinct standing as India’s center for financial services. He pointed out that the city’s regulatory framework and facilities make it a great place for businesses trying to get more exposure in the financial industry.

Similar remarks were made by Mr. Rajesh Sharma of HDFC Bank, who highlighted the bank’s long-standing partnership with Artha Bharat and expressed confidence in the company’s continued success. He also discussed the new ideas included in the most recent budget that might make GIFT City even more alluring to investors.

Despite several difficulties in starting Artha Bharat Investment Managers at GIFT City, the business was supported by two reputable consulting firms: Cyril Amarchand Mangaldas and CNK Khandwala & Associates. These companies assisted Artha Bharat in navigating the operational and regulatory hurdles required to set business in GIFT City by providing legal and financial consultancy services. Their knowledge played a crucial role in making sure the business’s move to this new financial center went smoothly and in accordance with all applicable laws.

Artha Bharat has strengthened its leadership team with important hires made as part of its expansion. The Principal Officer is now Mr. Akshesh Katkoria, who brings a lot of fund management and investment strategy experience to the role.

As the Compliance Officer, Ms. Madhuri Gurwani will be responsible for making sure the business complies with all legal obligations and upholds the highest standards of governance.

As Artha Bharat strives to develop its operations in GIFT City and beyond, these appointments are essential. Mr. Katkoria’s and Ms. Gurwani’s experience and knowledge will be important to the company as it works through the challenges of growing its product line and managing a sizable fund.

Future Goals: Establishing Additional Global Funds

Future goals are very big for Artha Bharat. Partner of Artha Bharat, Mr. Lovekesh Raj, gave an overview of the company’s expansion plan during the inauguration ceremony. This plan includes the introduction of multiple new international funds from GIFT City.

These funds will concentrate on a variety of investing topics, including fixed income, real estate, and commodity arbitrage.

Mr. Raj underlined that GIFT City’s many advantages are the company’s primary reason for deciding to locate these funds there. Artha Bharat wants to develop investment solutions that are competitive and meet the demands of both Indian and foreign investors by utilizing GIFT City’s platform.

A Fresh Start with the Artha Global Opportunity Fund

One of Artha Bharat’s first significant projects from its new headquarters in GIFT City is the Artha Global Opportunity Fund, which is presently being developed.

This fund offers investors a special combination of growth potential and risk management since it is designed to take advantage of possibilities in both the Indian and worldwide markets.

The fund is now being formed, and regulatory approval is anticipated shortly. Artha Bharat’s dedication to this key site will be further cemented when the fund is approved and operated out of GIFT City.

Partnerships with Important Financial Institutions

Leading financial institutions and Artha Bharat have united to establish the Artha Global Opportunity Fund. As the fund’s approved depositary participant and custodian, HDFC Bank will make sure that investors’ funds are handled securely. As the administrator and trustee, Vistra India has been designated to supervise the fund’s activities and guarantee adherence to all legal and regulatory obligations.

In addition to Nangia Andersen joining the team as the tax adviser to offer advice on the fund’s tax responsibilities and make sure it is set up in the most tax-efficient way possible, Cyril Amarchand Mangaldas remains a vital advisor to Artha Bharat regarding the documentation and structure of the fund.

Conclusion: A Promising Future

With the opening of Artha Bharat Investment Managers IFSC LLP in GIFT City, the business is embarking on an exciting new phase. Artha Bharat has strategically relocated to this emerging financial centre, putting it in a strong position to capitalise on the prospects that the Indian and international markets provide. The business will prosper and flourish in the upcoming years because to its dedication to innovation and the advantages of operating out of GIFT City.

As it sets out on this new path, Artha Bharat is committed to upholding its fundamental values of excellence, honesty, and integrity while delivering value to its investors. Artha Bharat has a bright future ahead of it, and the financial sector will surely be keeping a close eye on the business as it continues to leave its imprint in GIFT City.

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