PPFAS Launches New GIFT City Office to Offer Global and Domestic Investment Funds

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PPFAS Alternate Asset Managers IFSC Pvt. Ltd. Expanding Global Investment Reach

Inbound and Outbound Funds, along with PMS offerings, to be introduced soon

Rajeev Thakkar, Director and Chief Investment Officer at PPFAS, plays a key role in shaping the firm’s investment philosophy and global vision. His leadership and commitment to research-driven, long-term value investing are instrumental in guiding this strategic foray into alternate asset management via GIFT City.
Nirmal Bari, Director and Principal Officer at PPFAS Alternate Asset Managers IFSC Pvt. Ltd., highlighted the importance of this new office as a bridge between global investment flows and Indian expertise. This move strengthens PPFAS’s position as a trusted, investor-centric institution committed to innovation and transparency.

BILKULONLINE

Ahmedabad, April 30: PPFAS Alternate Asset Managers IFSC Pvt. Ltd., a wholly owned subsidiary of Parag Parikh Financial Advisory Services Limited (PPFAS), has officially inaugurated its new office in GIFT City (Gujarat International Finance Tec-City), Gandhinagar.

The new office signifies a strategic expansion into India’s fast-evolving international financial ecosystem and serves as a gateway to both global and domestic alternate investment opportunities.

GIFT City, envisioned as India’s first operational smart city and international financial services centre (IFSC), has rapidly emerged as a preferred destination for global financial institutions. With a supportive regulatory environment, tax incentives, and infrastructure modeled after global financial hubs like Dubai and Singapore, GIFT City offers Indian firms a unique platform to scale their global ambitions while also attracting foreign capital.

A New Chapter in Alternate Asset Management

By establishing a presence in GIFT City, PPFAS Alternate Asset Managers aims to strengthen its alternate investment business, aligning with its long-term strategy to serve both international and domestic investors through innovative financial products.

The firm has laid down the infrastructure, assembled a skilled team, and completed key regulatory groundwork. It is now preparing to launch an inbound fund, pending final regulatory approvals. This fund will be structured as a Fund of Funds (FoF) that feeds into the flagship Parag Parikh Flexicap Fund, offering a streamlined route for NRIs and foreign nationals to gain exposure to Indian equities.

Notably, the inbound fund offers several investor-friendly features:

No requirement for a PAN card
No need to open NRO/NRE accounts
No need for a Foreign Portfolio Investor (FPI) license
Funds can be freely repatriated, as investments are made in US Dollars
Currency risk is mitigated
Capital gains from unit transfers are tax-exempt under the Indian Income Tax Act
No Tax Deducted at Source (TDS)

Leadership Speak

Rajeev Thakkar, Director and Chief Investment Officer at PPFAS explained how the outbound side, PPFAS is developing fund structures that will allow resident Indian investors to invest internationally under the Liberalised Remittance Scheme (LRS). Since the Reserve Bank of India (RBI) imposed limits on international investments by domestic mutual funds in February 2022—limits that have not been revised upward—many Indian investors have been waiting for regulated opportunities to diversify globally. The specifics of the outbound fund structure are under exploration and will be revealed in due course, he added.

The firm will also offer Portfolio Management Services (PMS) from its GIFT City office, further broadening its suite of investment products.

Commenting on the milestone, Nirmal Bari, Director and Principal Officer at PPFAS Alternate Asset Managers IFSC Pvt. Ltd., said:

“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. 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.”

A Strategic Fit

This move aligns closely with PPFAS’s reputation for integrity, long-term value investing, and a client-first approach. Known for its widely respected mutual fund products, including the Parag Parikh Flexicap Fund, the firm’s entry into the alternate investment space via GIFT City reinforces its commitment to innovation and investor-centric growth.

PPFAS Alternate Asset Managers IFSC Pvt. Ltd. is dedicated to developing a robust platform for alternative investments out of GIFT City. As a subsidiary of Parag Parikh Financial Advisory Services Limited—an institution known for its research-driven and transparent investment philosophy—the IFSC unit will cater to global investors seeking Indian opportunities, as well as Indian investors looking outward.

The firm will soon announce the formal launch of its inbound fund and share additional details on its outbound and PMS offerings.

PPFAS Alternate Asset Managers IFSC Pvt. Ltd., a wholly owned subsidiary of Parag Parikh Financial Advisory Services Ltd. (PPFAS), has inaugurated its new office in GIFT City, Gandhinagar, marking a major milestone in its global expansion strategy.

The firm is set to introduce a range of offerings, including an inbound Fund of Funds (FoF) linked to the flagship Parag Parikh Flexicap Fund—specifically tailored for NRIs and foreign nationals. This fund eliminates the need for a PAN, NRO/NRE account, or FPI license, while offering full reporting compliance, tax exemptions on capital gains, and no TDS.

PPFAS will also soon launch outbound investment products under the Liberalised Remittance Scheme (LRS) for Indian residents, along with Portfolio Management Services (PMS) from its GIFT City base.

Disclaimer: Investors must thoroughly learn all the details of every investment scheme before investing.