HDFC AMC Approved to Set up Subsidiary at GIFT City in Ahmedabad
Source: Gin
HDFC Asset Management Company has received approval from the International Financial Services Centre Authority to set up a wholly-owned subsidiary at the Gujarat International Finance Tec (GIFT) City in Ahmedabad.
The fund house is in the process of setting up the company and will be launching funds targeting global investors who are looking at allocating capital to India, apart from domestic investors and NRIs who are exploring investments globally.
The wholly-owned subsidiary HDFC AMC International is going to be the "offshore hub" for the mutual fund major which does not have any other companies/businesses outside of India other than an office in Dubai.
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