True Beacon launches 1st AIF in GIFT City

New Delhi Bengaluru-based asset management company True Beacon on Thursday announced the launch of first alternative investment fund in Gujarat International Finance Tec (GIFT)-City for catering to investors globally.

The Category III Alternative Investment Fund (AIF) - True Beacon Global - will cater to individual and institutional investors globally and provide a seamless route to participate in the Indian capital markets, True Beacon said in a statement.

True Beacon was established in 2019 by stock broking platform Zerodha's co-founder Nikhil Kamath. The company is built on client alignment through a zero standing-fee model, a conservative investment approach, together with liquidity and tech-enabled transparency. With an established client base for its onshore fund, the asset management firm is now opening to global investors that are seeking exposure to the Indian capital markets and want to leverage the country's immense growth potential. True Beacon One, the asset management firm's onshore flagship fund, was launched in September 2019 and returned an absolute performance of 47.2 per cent in 2020, beating the Nifty 50 by 32.3 per cent. Building on this track record, True Beacon Global is aiming to match the performance of its domestic counterpart and additionally provides a competitive, tax-efficient structure with zero tax on futures and options, the company said.

True Beacon co-founder and CEO Richard Pattle said, "GIFT-City provides an attractive avenue to invest into India. The establishment of True Beacon Global at GIFT City is an exciting new chapter for True Beacon." He added that India is one of the most compelling investment destinations for ultra-high networth individuals and institutional investors globally.

"We look forward to playing our part in attracting foreign capital to the country." Kamath, co-founder and chief investment officer of True Beacon and Zerodha, said GIFT-City is the natural gateway for foreign investors in the Indian markets, providing seamless, tax-efficient and client-aligned wealth management for individual and institutional investors. He said the regulatory regime, coupled with high standards of governance, gives international investors a high degree of confidence.