True Beacon launches GIFT City's first operational hedge fund for strategic global investors in India
Nikhil Kamath and Richard Pattle, Co-founders of True Beacon, an Indian asset management company, have launched the first operational Alternative Investment Fund (AIF) in Gujarat International Finance Tec-City (GIFT City).
True Beacon Global, a Fund for international strategic investors, will provide access to Indian capital markets with high levels of transparency, coupled with zero management fees and a globally competitive tax regime.
True Beacon serves over 250 ultra high net worth and high net worth individuals in India, and is headquartered in Bangalore. The company's flagship Fund, True Beacon One, delivered a 32 per cent outperformance of the Indian equity index, NIFTY50, in 2020. True Beacon Global will mirror the flagship Fund's strategy for global institutional and individual investors.
True Beacon Global is based in GIFT City, a special economic zone in Ahmedabad, offering zero taxation on derivative gains, with a single unified regulator equating it to global financial hubs such as Dubai and Singapore.
Nikhil Kamath, Co-Founder and CIO, says: "The establishment of True Beacon Global in GIFT City is an exciting new chapter for us, building on our investment track record."
Richard Pattle, Co-founder and CEO, says: "India is one of the most compelling investment destinations for ultra high net worth individuals and institutional investors globally. The company looks forward to playing its part in attracting foreign investment into the country."