Standard Chartered Begins Wealth Services in GIFT City with Four Signature CIO Funds

Standard Chartered has launched four Signature CIO Funds from Gujarat International Finance Tec-City (GIFT City). The funds will allow the bank's affluent clients in India to invest in portfolios based on strategies developed by its Chief Investment Office (CIO). 

The funds have been developed in partnership with Amundi Asset Management and SBI Funds International (IFSC). Their investments will cover global equities, bonds, commodities, liquid alternatives and cash.  

Each of the four funds is designed around different investment objectives and risk appetites. 

Signature CIO Funds Record $5 Billion in AUM 

The Signature CIO Funds were introduced in 2022 and have since crossed $5 billion in assets under management (AUM). They are currently available across 13 markets. GIFT City is the latest market to be added to this list. 

The bank said it would introduce more wealth management products from GIFT City in the coming period. The current launch covers four funds, with portfolios spread across different asset classes. 

IFSCA Approval for Distribution 

Standard Chartered received approval from the International Financial Services Centres Authority (IFSCA) to distribute capital market products from GIFT City. The approval has allowed the bank to begin offering its wealth solutions through the financial centre. 

Standard Chartered began operations in GIFT City in 2020, becoming the first foreign bank to do so. Its operations there have so far included banking services for corporate and institutional clients.  

The launch of the Signature CIO Funds adds wealth management products to its existing services. 

Bank's Plans for GIFT City 

Samir Subberwal, Global Head of Wealth Solutions, Retail Products, Data & Analytics at Standard Chartered, said Indian clients were showing greater interest in investments across international markets. 

He said the launch would give clients another option for accessing global investments through diversified portfolios. The bank also plans to bring more of its international investment solutions to India through GIFT City. 

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Conclusion 

The launch adds four investment funds to Standard Chartered's existing operations in GIFT City. The bank has indicated that more wealth solutions will be introduced from the centre in the future. 

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