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International Financial Services Centres Authority

International Financial Services Centres Authority:

International Financial Services Centres Authority (IFSCA), has notified a comprehensive regulatory framework for Investment Funds in the official gazette on April 19, 2022.

  • Registering the Fund Management Entity: A Fund Management Entity will be registered with IFSCA and will be able to manage different types of funds and schemes subject to meeting the eligibility criteria.
  • Venture Capital Schemes or non-retail schemes soliciting money from accredited investors only shall qualify for a green channel i.e. the schemes filed can open for subscription by investors immediately upon filing with IFSCA.
  • Exchange Traded Funds (ETFs): Considering that ETFs offer a means to gain exposure to specific markets or asset classes at a low cost, registered fund managers in IFSC shall be able to launch not just Index based ETFs but also Active ETFs and Commodity based ETFs.
  • Environment Social Governance (ESG): Growing number of investors expect fund managers to make ESG issues integral to their investment strategies.
  • With the intent of making IFSC a hub for a host of activities related to sustainable finance, disclosures have been proposed to be mandated at the entity level and scheme level.

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