Non-resident Indians and global investors now have a consolidated, dollar-denominated gateway into India’s mutual fund landscape. The Wealth Company’s new Category III Alternative Investment Fund, launched in GIFT City, bypasses individual SEBI FPI registration requirements, allowing direct exposure to over 1,600 schemes through a single professionally managed structure.
The fund serves as an open-ended vehicle for family offices, institutional allocators, and high-net-worth individuals residing outside India. By centralizing access to equity, fixed income, hybrid funds, and various ETFs, the firm aims to simplify the complexities of navigating India’s diverse asset management ecosystem from financial hubs like Dubai, Singapore, and London.
Founder Madhu Lunawat noted that the initiative shifts India from a distant market to a core component of long-term global portfolios. Managing Director Unmesh Kulkarni emphasized that the firm handles the rigorous selection and rebalancing processes that often deter overseas investors. The structure is specifically designed to accommodate the needs of investors in regions including the UAE, Saudi Arabia, and Mauritius.
Tax efficiency remains a focal point of the fund’s design. As a Category III AIF based in the IFSC, it is positioned to qualify as a “Specified Fund” under the Income-tax Act, 2025. This status potentially allows eligible non-residents to benefit from exemptions on distributions and capital gains, alongside relief from standard Indian PAN and tax return filing requirements. Investors are encouraged to consult personal tax advisors to assess how these provisions align with the regulations of their home jurisdictions.
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