HOW FUND OVERLAP CAN EXPOSE YOUR PORTFOLIO TO RISKS

Edelweiss MF launched India's first multi-manager fund from Gift City, targeting NRIs, OCIs

- SAURABH MITTAL

With overseas investors showing growing interest in Indian equities, asset managers are turning to Gift City, the emerging financial hub, to offer simpler and more curated investment routes.

Edelweiss Mutual Fund is the first asset management company to launch a multi-manager fund out of Gift City, designed for non-resident Indians (NRIs) and overseas citizens of India (OCIs).

Unlike conventional offerings tied to a single asset manager, the multi-manager equity fund follows an open-architecture model and is not restricted to Edelweiss schemes alone, giving investors broader access to proven managers and styles.

Radhika Gupta, managing director and chief executive officer, Edelweiss Mutual Fund, in an interaction with Mint, explains the details.

How is the fund different, and who can invest in this fund?

This fund is part of the restricted class of funds, with a minimum investment of $150,000. We are very bullish on Gift City as a platform, and this multi-manager fund is the first of several funds we will launch. The fund is targeted at NRIs, OCIs, or anyone looking to get exposure to India.

Gift City fills a clear gap by offering investors quality Indian equity exposure with a dollar investment while avoiding the heavy paperwork that normally comes with such investments. With this fund, instead of investors opening accounts with multiple AMCs, choosing different schemes, and tracking their performances individually, they now get a one-ticket India solution.

This is specifically relevant for non-resident Indians who don't have to deal with opening multiple accounts, more paperwork, or the burden of rebalancing their portfolio across different funds. Here, all of that is consolidated into one seamless fund.