Neo Asset Management Debuts India’s First Multi-AMC Fund via GIFT City

Neo Asset Management, part of Neo Group, has launched the India All-Cap Core Equity Fund from GIFT City. The scheme is an open-ended, multi-manager Fund of Funds (FoF) set up under the Category III Alternative Investment Fund (AIF) framework.  

It is positioned as an independently structured multi-AMC equity fund based in the international financial services centre. 

Target Investors 

The fund has been created for overseas investors seeking exposure to Indian equity markets through an offshore structure.  

Eligible investors include foreign institutions, non-resident Indians, qualifying dual citizens, high net worth individuals and family offices. Both individual and institutional investors can participate, subject to regulatory requirements. 

Fund Size and Minimum Investment 

The India All-Cap Core Equity Fund aims to raise up to $100 million. The minimum investment amount is $150,000, or roughly ₹1.35 crore.  

Subscriptions are open to investors who meet eligibility and compliance norms applicable under the GIFT City framework. 

Investment Approach 

The fund follows an all-cap equity strategy, with exposure across large-cap, mid-cap and small-cap stocks.  

It adopts a multi-manager model, allocating capital to multiple asset management companies rather than relying on a single portfolio manager. The structure is designed to provide diversified equity exposure through a single fund. 

Regulatory and Tax Framework 

The fund operates from GIFT City and is governed by the rules applicable to Category III AIFs. Under existing tax provisions, certain income streams earned by offshore investors may be eligible for exemption under Section 10(4D) of the Income Tax Act.  

These benefits are subject to investor eligibility, regulatory approvals and ongoing compliance. 

The scheme will be managed by Chintan Bhatt, Fund Manager and Principal Officer at Neo Asset Management, along with Pranjal Mitra, Senior Analyst. The team will be supported by Neo’s internal investment and research resources. 

Neo Group Overview 

Neo Group manages more than ₹80,000 crore of client assets across wealth management and advisory businesses. Its alternatives and asset management platform oversees about ₹18,500 crore across private credit, private equity, real assets and listed market strategies. 

Read More: HDFC Mutual Fund Raises Stakes in 469 Stocks, Cuts Exposure to Swiggy, Paytm & More in Nov 2025! 

Conclusion 

The launch adds a new India-focused equity fund to the list of offerings based out of GIFT City. It provides another offshore route for global investors to access Indian equity markets under a regulated framework. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.   
 
Mutual Fund Investments are subject to market risks, read all the related documents carefully before investing.