Standard Chartered has been granted approval by the International Financial Services Centres Authority (IFSCA) to distribute funds from Gujarat International Finance Tec-City (GIFT City).
The permission means the Bank can expand its wealth offering from India’s international financial services hub as it looks to broaden access to its global wealth capabilities.
Standard Chartered expects to roll out its Signature CIO Funds from GIFT City for eligible clients in the coming weeks, with additional wealth solutions to follow in due course.
The Signature CIO Funds are a suite of four funds designed to provide access to the bank’s chief investment office investment strategies through diversified multi-asset portfolios spanning equities, fixed income, commodities, alternatives and cash.
Since their launch in 2022, the Signature CIO Funds have attracted more than $5bn in assets under management and are available across 12 markets.
Samir Subberwal, global head, wealth solutions, retail products, data and analytics, at Standard Chartered, said: “We are seeing growing demand from affluent clients for internationally diversified portfolios, expert advice and seamless access to opportunities across markets.
“GIFT City provides a compelling platform to serve these needs, drawing on India’s growing role in global wealth creation and investment flows. This approval marks an important step in expanding our wealth capabilities through GIFT City, starting with the launch of our Signature CIO Funds and followed by a broader suite of wealth solutions over time.”
