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Shriram Asset Management Company Ltd said that the market regulator SEBI has given its approval to it to manage offshore funds.
IT said in a statement that “the company has recently got the go-ahead from Securities and Exchange Board of India (Sebi) to undertake ‘offshore fund management’.”
Shriram AMC said that “India’s relatively higher growth and diversity of themes present an attractive opportunity for foreign investors over the medium-to-long term”.
It further added that “the sentiments have become investor-friendly due to government’s announcement of a series of reform measures in recent months, such as not imposing retrospective MAT on overseas investors for the years prior to April 1, 2015”.
