PPFAS Alternate Asset Managers IFSC Private (PPFAS GIFT) today announced the launch of two new outbound passive retail funds: Parag Parikh IFSC S&P 500 Fund of Fund and Parag Parikh IFSC Nasdaq 100 Fund of Fund from GIFT City, IFSC.
The new fund offer or NFO for both the schemes is open for subscription and will close on March 16.
These funds open a new way for Indian investors to participate in major U.S. stock markets without the need to open foreign brokerage accounts. They are structured to primarily invest in ETFs and UCITS that track the S&P 500 and Nasdaq 100 indices, respectively, thereby bringing broad exposure to large-cap U.S. stocks and leading technology companies to investors through a simple and compliant route
