The Wealth Company has launched an open-ended fund of funds (FoF) through GIFT City to offer eligible non-resident investors a single route to invest across India’s mutual fund market, said the company in a press release.
The Wealth Company IFSC FoF is a US dollar-denominated Category III Alternative Investment Fund (AIF). It will be managed by Wealth Company Asset Management Private Limited’s IFSC branch, an IFSCA-registered Fund Management Entity.
The fund house, in the press release, said that the fund will invest across diversified equity funds, sectoral schemes, debt funds, hybrid funds, index strategies, gold and silver ETFs and Specialised Investment Funds (SIFs), subject to its investment mandate.
The fund house will evaluate schemes based on historical returns, risk parameters, relative performance, quantitative indicators and its forward-looking market outlook. It will also undertake portfolio allocation and rebalancing on behalf of investors.
“GIFT City gives us the ability to build that bridge. We want an Indian living overseas to think about India as part of their long-term wealth portfolio and not as a market that is difficult to access from where they live,” said Madhu Lunawat, Founder, The Wealth Company.
The offering is targeted at eligible NRIs, HNIs and UHNIs, accredited investors, global family offices and institutional allocators. Resident Indians cannot invest in the fund. Currently, it will also not accept investors residing in the US and Canada or FATF-restricted jurisdictions.
According to the fund house, eligible investors will not need to separately obtain SEBI Foreign Portfolio Investor registration to access the underlying Indian mutual fund portfolio through this FoF structure.
The launch assumes significance for MFDs and wealth advisers serving NRI clients, as it provides a professionally managed India allocation without requiring investors to select and monitor individual schemes. However, the MFDs will have to assess their clients’ eligibility, risk profile, currency exposure and taxation in the country of residence.
The Wealth Company said the fund is expected to qualify as a specified fund under the applicable Indian tax framework, subject to prescribed conditions, which means that the final tax treatment would depend on each investor’s circumstances and local laws.
“There are more than 1,600 schemes to choose from, different market cycles and very different investment styles. Our job is to do that selection and rebalancing within a structure that makes sense for an overseas investor,” said Unmesh Kulkarni, Managing Director and Group Product Head, The Wealth Company.
India’s mutual fund industry managed assets worth Rs.82.22 lakh crore as of June 2026, compared with Rs.13.81 lakh crore a decade ago, according to the release.
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