Shriram Asset Management Company Ltd today said it has got market regulator Sebi's approval to manage offshore funds. "The company has recently got the go-ahead from Securities and Exchange Board of India (Sebi) to undertake 'offshore fund management'," Shriram Asset Management Company said in a statement. Simplifying norms for domestic funds to manage offshore pooled assets, Sebi earlier this year, among others had dropped '20-25 rule', which required a minimum of 20 investors and a cap of 25 per cent on investment by an individual, for funds from low-risk foreign investors.
"India's relatively higher growth and diversity of themes present an attractive opportunity for foreign investors over the medium-to-long term", Shriram AMC said. "The sentiments have become investor-friendly due to government's announcement of a series of reform measures in recent months, such as not imposing retrospective MAT on overseas investors for the years prior to April 1, 2015", it added. PTI
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