ask: ASK Realty Fund gets the green light to set up an AIF in GIFT City

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ASK Real Estate Fund II, sponsored by ASK Property Investment Advisors (ASK PIA), received approval from the International Financial Services Center Authority (IFSCA) to create and manage its first real estate focused fund of funds as a Alternative Investment Fund (AIF), Category III of GIFT City in Gujarat.

This fund will be a pooling vehicle allowing international funds to invest in funds that will invest more money in companies or projects. Thanks to this, global investors will have the opportunity to invest in India through GIFT City and will not need to route it through Singapore, Cyprus, Mauritius and other similar places.

Agencies

ASK Real Estate Fund II is the first fund to obtain this approval. The establishment of the International Financial Services Center (IFSC) has made the investment process more efficient and streamlined for investment flows from NRIs and global investors to domestic markets.

“Fund companies like ASK will open the doors for various NRIs, HNIs and global funds to invest in AIFs at GIFT IFSC. It has become a natural choice for large fund companies to set up offices at GIFT IFSC and attract offshore funds for investment in India With this development, the momentum of Indian and global institutions for the establishment of funds Similar to GIFT IFSC is accelerating, ”said Tapan Ray, Group CEO, GIFT City. ASK PIA also received approval from the authority to establish a branch in GIFT City, Gandhinagar.


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