NAM India gets IFSCA approval to carry out PMS from Gift City, Gandhinagar

Nippon Life India Asset Management Limited (NAM India) has been granted approval by IFSCA on January 20, 2022 to carry out Portfolio Management Services through a branch office in International Financial Services Centre (IFSC) in India. NAM India continues to add value to investors by expanding its reach and presence in unique locations to service global clients by leveraging Nippon Life Insurance global network.

Sundeep Sikka, ED and CEO, Nippon Life India Asset Management Ltd said, "NAM India has been managing and advising global flows through various funds and mandates (including SWFs) and catering to investors across Asia, Middle East, UK, US, & Europe. We are currently operating 5 funds for Japan including Fixed Income, Equity, Real Estate and Tech Venture Capital fund and other mandates in collaboration with asset managers in Australia, Taiwan etc. Our focus is to become gateway for global investments into India and we believe GIFT IFSC is an important step as it will further strengthen and accelerate global allocations into India. We will continue our endeavour to bringing more foreign flows and continue leveraging Nippon Life global network towards the same."

Shares of Nippon Life India Asset Management Limited was last trading in BSE at Rs. 360.45 as compared to the previous close of Rs. 360.20. The total number of shares traded during the day was 24576 in over 1088 trades.

The stock hit an intraday high of Rs. 365.75 and intraday low of 355.45. The net turnover during the day was Rs. 8864861.00.

Source : Equity Bulls

Keywords

NipponLifeIndiaAssetManagement INE298J01013 NAMINDIA IFSCAApproval PMS GiftCity Gandhinagar