ASK Property to set up alternate investment fund in GIFT City

ASK Property Investment Advisors (ASKPIA) has received approval from the International Financial Services Center Authority (IFSCA) to establish and manage its first real estate-focused fund of funds as an Alternative Investment Fund (AIF), Category III, in GIFT City in Gujarat.

The authority has also authorized ASKPIA to open a branch in Gandhinagar's GIFT City.

This fund will serve as a conduit for international funds to invest in funds that subsequently invest in companies or projects. Global investors can invest in India directly through GIFT City, rather than through Singapore, Cyprus, Mauritius and other countries.

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