True Beacon kinds FPI entity to draw abroad funding into Indian capital markets


New Delhi, September 8

To appeal to overseas funding into the Indian capital markets, asset administration agency True Beacon on Tuesday stated it has set-up a overseas portfolio funding (FPI) firm.

The category-I FPI agency — Mauritius-based True Beacon International — will serve international ultra-high internet value and excessive net-worth people who want to take part in and contribute to India’s progress story, the asset administration firm (AMC) stated in an announcement.

Further strengthening the management of the AMC because it expands throughout India and abroad, the corporate introduced that Richard Pattle, who’s at present senior advisor to True Beacon and Zerodha, will assume the full-time function of CEO of True Beacon.

Pattle is a former vice-chairman of Standard Chartered Private Bank and Master of the Household of Their Royal Highnesses.

In addition, the one-year-old True Beacon stated its flagship fund — True Beacon One — which invests in Indian capital markets, recorded an outperformance of the NSE Nifty-50 benchmark by 26.6 per cent from September 2019 to August 2020.

The annualised returns for the fund had been 29.7 per cent in the course of the interval.

Nikhil Kamath, co-founder and CIO True Beacon and Zerodha, stated the AMC providers ultra-high internet value and excessive net-worth people and employs a disruptive income mannequin with zero administration and standing charges.

Instead, the corporate charged a 10 per cent efficiency reward on any features achieved and gives liquidity for buyers by way of an open-ended fund construction, he added. PTI



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