New open-ended Category III AIF targets non-resident investors with tax exemptions and simplified access to Indian markets.
Pantomath Group’s The Wealth Company has launched a USD-denominated fund of fund in GIFT City IFSC, targeting non-resident Indians and overseas investors. The open-ended Category III Alternative Investment Fund (AIF) provides access to Indian mutual funds, ETFs, and sector-specific strategies without requiring SEBI FPI registration.
The fund spans equity, debt, hybrid, gold, silver ETFs, and index-based strategies, catering to family offices, institutional allocators, and accredited investors. It is structured to qualify as a ‘Specified Fund’ under the Income-tax Act, 2025, potentially exempting eligible investors from Indian income tax on payouts and capital gains.
Eligible non-resident investors may also benefit from relaxed PAN and tax filing requirements. The vehicle aims to streamline offshore participation in India’s capital markets while leveraging GIFT City’s regulatory framework.