Artha Bharat Investment Managers IFSC, a fund management entity (FME) in GIFT City managing over $800 million in assets in the financial centre, is relocating two of its funds to Abu Dhabi Global Market (ADGM), citing tax uncertainty and compliance burden.
The FME is relocating the master fund of the $112 million Artha Global Multiplier Fund, which invests primarily in the US consumer theme. The second is the recently launched Artha Bharat Absolute Return Fund, an arbitrage fund investing in Indian securities. The Artha Global Multiplier Fund is open only to non-resident Indians (NRIs).
The FME is in the process of setting up a new fund in ADGM, following which investors in the current funds may shift to the new one.
