Computer Age Management Services (CAMS) share price added 8 percent intraday on August 27 after the company got the nod to set up an office at GIFT city to provide asset management support (AMS) services to financial institutions.
The company “received a communication dated 25th August 2021 from International Financial Services Centres Authority (IFSC), Gandhinagar authorising it to undertake Administration, Asset Management Support Services and Trusteeship Services", it said in a release.
Earlier, GIFT City Multi Services-SEZ issued a letter of approval to the company, extending the facilities and entitlements admissible to units in GIFT City.
Consequent to the approvals, the company is in the process of setting up an office at GIFT city to provide AMS Services to financial institutions that have set up or in are in process of setting up operations.
CAMS has been serving the AIF (Alternative Investment Funds) segment for over 12 years.