Fund Management
Retail Scheme
Fund Management Entities, AIFs, retail schemes and PMS
About this entity type
A very brief overview
GIFT IFSC replaces the traditional fund-plus-manager licensing with a single registration for the Fund Management Entity (FME). An Authorised FME can launch venture capital schemes; a Registered FME (Non-Retail) can launch restricted (Category I/II/III style) schemes and offer portfolio management; a Registered FME (Retail) can additionally launch retail schemes and ETFs. Schemes are then filed with IFSCA under the FME's registration.
Who it suits: Domestic and offshore fund managers, family offices, PE/VC sponsors, and PMS providers pooling global capital.
Applicable regulation
IFSCA (Fund Management) Regulations, 2025
FME categories, minimum net worth, key managerial personnel, scheme filing, investor eligibility, valuation and disclosure norms.
Official sourceIFSCA circulars on schemes and PMS
Operational circulars covering scheme documentation, co-investment, distribution and periodic reporting.
Official source
Registered entities
Entities registered under Retail Scheme
14 entities on the IFSCA register. Live data from the IFSCA directory.
| Entity | Sub-category | Registration | Validity |
|---|---|---|---|
| Baroda BNP Paribas Gift Multicap Fund | Retail Scheme | IFSC/Retail/2025-26/00721 Nov 2025 | Perpetual / Not stated |
| DSP Global Equity Fund | Retail Scheme | IFSC/Retail/2025-26/00202 Jun 2025 | Perpetual / Not stated |
| Edelweiss Greater China Equity FUND | Retail Scheme | IFSC/Retail/2025-26/00827 Nov 2025 | Perpetual / Not stated |
| Edelweiss India Opportunities Fund | Retail Scheme | IFSC/Retail/2025-26/00313 Aug 2025 | Perpetual / Not stated |
| HDFC International – Developed Markets Equity Fund | Retail Scheme | ashishm@hdfcfund.com30 Jun 2026 | Perpetual / Not stated |
| HDFC International – Emerging Markets Equity Fund | Retail Scheme | IFSC/Retail/2026-27/01329 Jun 2026 | Perpetual / Not stated |
| Marcellus Global Equities Fund | Retail Scheme | IFSC/Retail/2026-27/01119 May 2026 | Perpetual / Not stated |
| Nippon Global XTrackers Artificial Intelligence & Big Data ETF GIFT | Retail Scheme | IFSC/Retail/2026-27/01209 Jun 2026 | Perpetual / Not stated |
| NJ India Opportunities Fund | Retail Scheme | IFSC/Retail/2025-26/00122 Apr 2025 | Perpetual / Not stated |
| Parag Parikh IFSC NASDAQ 100 Fund of Fund | Retail Scheme | IFSC/Retail/2025-26/00614 Nov 2025 | Perpetual / Not stated |
| Parag Parikh IFSC S&P 500 Fund of Fund | Retail Scheme | IFSC/Retail/2025-26/00514 Nov 2025 | Perpetual / Not stated |
| Parag Parikh India Flexi Cap Fund | Retail Scheme | IFSC/Retail/2025-26/00910 Dec 2025 | Perpetual / Not stated |
| Sundaram India Mid Cap - GIFT Fund | Retail Scheme | IFSC/Retail/2025-26/01007 Jan 2026 | Perpetual / Not stated |
| Tata India Dynamic Equity Fund | Retail Scheme | IFSC/Retail/2025-26/00415 Sept 2025 | Perpetual / Not stated |
Timeline & approach
How we take Retail Scheme from plan to authorisation
Step 1
Eligibility & structure
Week 1
We map your activity to the right IFSCA category and sub-category, confirm net worth, KMP and shareholding eligibility, and fix the holding structure.
Step 2
SEZ unit approval
Weeks 2–4
Unit application to the Development Commissioner, Letter of Approval, office space lease and NDC/customs registrations.
Step 3
IFSCA application
Weeks 3–8
Application, business plan, policies (AML/CFT, risk, outsourcing, cyber), KMP profiles and query resolution until in-principle approval.
Step 4
Go-live & compliance calendar
Weeks 8–14
Bank account, systems, statutory registrations, commencement intimation and handover to a live obligation calendar in your Gateway portal.
Indicative cost
USD 7,000 – 16,000 for FME registration + per-scheme filing
Retail FME mandates are higher; scheme filings are quoted per scheme. Regulator fees at actuals.
Why GIFT City Gateway
Why sponsors pick us for this
Category specialists
We work only on GIFT IFSC mandates — the regulation, the reviewer questions and the SEZ process are our daily work.
One accountable owner
A named Gateway lead runs your application end to end, not a rotating coordinator queue.
Live intelligence
We track every authorised entity in this category, so your structure is benchmarked against real precedents.
Setup to steady state
Registration hands over into a live compliance calendar in your client portal — no gap after go-live.
Next step
Tell us what you need for Retail Scheme
Share your plan and we respond with the eligibility read, the document list, the indicative timeline and a fee.
- • Eligibility and net-worth check against the applicable regulation
- • Structure options (branch vs subsidiary, holding jurisdiction)
- • Week-by-week plan across SEZ and IFSCA
- • Fixed-fee proposal with the compliance calendar that follows
Lead details