Abu Dhabi-based Neovision Wealth Management has teamed up with DSP Asset Managers and Valura.AI to launch the DSP Equity Opportunity Funds PC in the Abu Dhabi Global Market (ADGM) to give offshore investors access to an India-focused equity strategy through a USD-denominated fund.
The feeder fund is available to eligible offshore investors from FATF-compliant countries, other than resident Indians. The underlying DSP Large & Mid Cap fund – managed by Rohit Singhania, co-head of equities at DSP Asset Managers – seeks long-term capital appreciation through a bottom-up approach, focusing on companies with strong or improving growth prospects, healthy balance sheets and capable management teams. It also considers cyclical businesses near the bottom of their cycles and turnaround opportunities with clear catalysts and attractive valuations.
Through Valura.AI, investment operations including due diligence, onboarding, investor verification and investment tracking will be digital.
For an Indian professional in the UAE looking to invest in India, accessing Indian equities has traditionally involved setting up an NRE or NRO account, Neovision says, transferring funds to India and navigating documentation, tax and compliance requirements, but through Valura.AI, eligible investors can open an account digitally, invest in US dollars and hold a USD-denominated investment, without opening an NRE or NRO account or completing physical attestation and documentation processes.
Jay Kothari, global head of international business at DSP Asset Managers, said, “We have been looking at how we can make investing in India simpler and more accessible for investors outside the country. While the opportunity in Indian equities is well understood, accessing it from overseas can involve multiple processes around documentation, account setup, currency and tax.
“With the DSP Equity Opportunity Funds PC (Feeder Fund), we are bringing these elements together in a single ADGM-based structure, combining DSP’s Indian equity investment capabilities, Neovision’s local fund management platform and Valura.AI’s fully digital investment journey. We believe this can make accessing and managing Indian equity investments considerably more seamless for eligible offshore investors.”
