In an exclusive conversation with BILKULONLINE, Sachin Sawrikar, Founder & Managing Partner, emphasized the strategic significance of the GIFT City entity. He explained that the new entity would enable the offering of a diverse range of investment products catering to both global and Indian markets. Sawrikar also announced the relocation of their largest fund, with an Asset under Management (AuM) exceeding Rs 1,100 crore (USD 130 million), from Mauritius to GIFT City, rebranded as the Artha Global Opportunity Fund. “We would be moving our largest fund with AuM of over Rs 1,100 crore (USD 130 million) from Mauritius to GIFT City as Artha Global Opportunity Fund. This reinforces our commitment to GIFT City,” Sawrikar stated.
Assets under Management (AuM) refers to the total market value of the investments managed by a financial institution, such as a mutual fund, hedge fund, or investment firm, on behalf of its clients. The AuM figure signifies the size and growth potential of the fund management company.
A formal function to inaugurate the physical presence of the entity in GIFT City, Gandhinagar, is scheduled for August 9th at Radisson GIFT City Club. The event is expected to be attended by numerous dignitaries as Guests of Honour. Sandip Shah, Head of IFSC & Strategy Department at GIFT City, will deliver the keynote address, accompanied by Rajesh Sharma, Executive Vice President at HDFC Bank, and Vivaik Sharma, Partner at Cyril Amarchand Mangaldas.
Both Sachin Sawrikar and Lovekesh Raj, Partner at Artha Bharat, have had distinguished global investment management careers prior to launching this new venture. Akshesh Katkoria will serve as the Principal Officer, and Madhuri Gurwani will be the Compliance Officer at Artha Bharat’s GIFT City office.
Lovekesh Raj elaborated on the company’s plans to utilize the GIFT City entity for launching international funds focusing on themes such as Commodity Arbitrage, Real Estate, and Fixed Income. “The formation of the Rs 1,100 crore Artha Global Opportunity Fund is underway, pending regulatory approval. HDFC Bank will serve as the designated depositary participant and custodian, while Vistra India will act as the Trustee and administrator. Cyril Amarchand Mangaldas will continue to advise on fund structuring and documentation, with Nangia Andersen providing tax advisory services,” informed Lovekesh Raj.
With this strategic move, Artha Bharat Investment Managers IFSC LLP aims to leverage the unique opportunities offered by GIFT City, reinforcing its commitment to delivering innovative investment solutions to a global clientele.
GIFT (Gujarat International Finance Tec) City is located on the banks of Sabarmati river, connecting business capital (Ahmedabad) and political capital (Gandhinagar) of Gujarat state – The Growth Engine of India. It emphasizes sustainability and aims to create a robust ecosystem for various economic activities, particularly in the financial sector. The project is designed to revolutionize the global financial ecosystem and promote economic growth.