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ARTICLE · 28 AUGUST 2025

IFSCA Notifies The Third-Party Fund Management Framework In IFSC, Gift City

Khaitan & Co.
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On 24 July 2025, the International Financial Services Centres Authority (IFSCA) notified the International Financial Services Centres Authority (Fund Management) (Amendment) Regulations, 2025...

IndiaFinance and Banking
Siddharth Shah
Siddharth Shah
Shikhar Kacker
Shikhar Kacker
Parv Pancholi
Parv Pancholi
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On 24 July 2025, the International Financial Services Centres Authority (IFSCA) notified the International Financial Services Centres Authority (Fund Management) (Amendment) Regulations, 2025 operationalising the third-party fund management framework, allowing global fund managers to piggy-back on the platform operated by existing fund management entities.

Background

Under the extant IFSCA (Fund Management) Regulations, 2025 (FME Regulations) fund managers are required to set up on ground presence by registering themselves as FMEs for launching and managing their schemes in the International Financial Services Centre (IFSC), GIFT City. Industry stakeholders have long advocated for a flexible structure that allows external fund managers to use a platform-play model similar to those in leading financial centres and manage their schemes in GIFT IFSC by leveraging the structure of existing fund managers.

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