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CS Professional · IFSCA - Regulations, Listing and Compliances · Fund Management Services

Tanvi Asset Managers wants to know which kinds of activity the IFSCA (Fund Management) Regulations, 2022 are designed to cover for entities in GIFT IFSC. Which is correct?

The regulations cover fund management by FMEs across several vehicles, including venture capital schemes, restricted schemes, retail schemes and family investment funds. They are not confined to rupee mutual funds, and banking or broking activities fall under separate IFSCA regulations.

  1. AOnly mutual funds sold to Indian residents in rupees
  2. BOnly banking deposits taken from individuals
  3. COnly stock broking and clearing services
  4. DManaging funds such as venture capital, restricted schemes, retail schemes and family investment funds through FMEsCorrect

Explanation

The Regulations cover fund management through FMEs for varied vehicles, including venture capital schemes, restricted (accredited investor) schemes, retail schemes and family investment funds. They are not limited to rupee mutual funds, and banking or broking is governed by separate IFSCA regulations.

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