PPFAS GIFT launches two outbound passive retail funds from GIFT City, IFSC

Mumbai, Feb 23: PPFAS Alternate Asset Managers IFSC Private Limited (PPFAS GIFT) today announced the launch of two new outbound passive retail funds, Parag Parikh IFSC S&P 500 Fund of Fund and the Parag Parikh IFSC Nasdaq 100 Fund of Fund from GIFT City, IFSC. The New Fund Offer (NFO) for both the schemes opens on February 23,and closes on March 16.

These funds open a new way for Indian investors to participate in major U.S. stock markets without the need to open foreign brokerage accounts. They are structured to primarily invest in ETFs and UCITS that track the S&P 500 and Nasdaq 100 indexes, respectively, thereby bringing broad exposure to large-cap U.S. stocks and leading technology companies to investors through a simple and compliant route.

Parag Parikh IFSC S&P 500 FOF Fund of Fund seeks to track the performance of the S&P 500 Index, which comprises approximately 500 of the largest publicly traded companies in the United States.

Parag Parikh IFSC Nasdaq 100 FOF Fund of Fund seeks to provide exposure to the Nasdaq-100 Index, which includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, with major representation from technology and other innovation-driven sectors.

Both of these funds are designed to be accessible with a low minimum investment of USD 5,000, allowing investors to participate in global equity markets without a large outlay. These funds also feature a low Total Expense Ratio (TER), ensuring that a greater portion of investors’ capital is allocated toward the underlying investments rather than fund management costs. They are aimed at Resident Indian Individuals and other eligible investors, e.g. Companies, LLPs, Partnership Firms who want international diversification through an easy-to-access product with clear tax and regulatory frameworks.

Nirmal Bari, Director and Principal Officer, said, “Today marks an exciting chapter in our journey. These new outbound retail funds reflect our belief that great investment opportunities shouldn’t be limited by geography. At PPFAS, we want to make global markets more accessible to our clients in a way that is transparent, simple to understand, and grounded in strong governance. Through these retail funds from GIFT City, we are expanding access to global equity markets for Indian investors through a structured, dollar-denominated and regulated platform.”