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Hi guys. I have a query. Kindly help. Who are foreign fund managers and how do we benefit by making them relocate to India because the govt and Sebi has initiated changes to encourage such a trend. Thank you!
Have you heard of private equity companies?
See in US, many people, Universities sit with large pool of cash ( read billions), they want to invest this money. So they hire people ( read big companies). This big companies range from private equity firms to hedge fund managers etc many many variations.
Now I have 1 billion. I hire Bain Capital ( top pvt equity company) , give bain 1 billion and ask the company to pay me some return after years. Now Bain will create some fund e.g real estate fund (REIT), hedge fund or anything they like and invest accordingly to get returns.
These fund managers are huge and their assets under management exceeds 10 billion every year. But they ignored India till now because strict tax norms.
India is trying to get these fund mangers back in India as this will be a game changer to close down the fiscal deficit in a way of getting tax from both the investors and fund managers. No need to introduce strict taxes as the tax base itself is very wide so will generate enough revenue for the government.
Plus, entire industry it will bring along with itself is huge in one way, there will be push for employment in accounts, lawyers etc.. Finance Minister said last year they want to create Financial SEZ along the lines of GIFT (Gujarat)...
Hi guys. I have a query. Kindly help. Who are foreign fund managers and how do we benefit by making them relocate to India because the govt and Sebi has initiated changes to encourage such a trend. Thank you!
Have you heard of private equity companies?
See in US, many people, Universities sit with large pool of cash ( read billions), they want to invest this money. So they hire people ( read big companies). This big companies range from private equity firms to hedge fund managers etc many many variations.
Now I have 1 billion. I hire Bain Capital ( top pvt equity company) , give bain 1 billion and ask the company to pay me some return after years. Now Bain will create some fund e.g real estate fund (REIT), hedge fund or anything they like and invest accordingly to get returns.
These fund managers are huge and their assets under management exceeds 10 billion every year. But they ignored India till now because strict tax norms.
India is trying to get these fund mangers back in India as this will be a game changer to close down the fiscal deficit in a way of getting tax from both the investors and fund managers. No need to introduce strict taxes as the tax base itself is very wide so will generate enough revenue for the government.
Plus, entire industry it will bring along with itself is huge in one way, there will be push for employment in accounts, lawyers etc.. Finance Minister said last year they want to create Financial SEZ along the lines of GIFT (Gujarat)...
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Comments
See in US, many people, Universities sit with large pool of cash ( read billions), they want to invest this money. So they hire people ( read big companies). This big companies range from private equity firms to hedge fund managers etc many many variations.
Now I have 1 billion. I hire Bain Capital ( top pvt equity company) , give bain 1 billion and ask the company to pay me some return after years. Now Bain will create some fund e.g real estate fund (REIT), hedge fund or anything they like and invest accordingly to get returns.
These fund managers are huge and their assets under management exceeds 10 billion every year. But they ignored India till now because strict tax norms.
India is trying to get these fund mangers back in India as this will be a game changer to close down the fiscal deficit in a way of getting tax from both the investors and fund managers. No need to introduce strict taxes as the tax base itself is very wide so will generate enough revenue for the government.
Plus, entire industry it will bring along with itself is huge in one way, there will be push for employment in accounts, lawyers etc.. Finance Minister said last year they want to create Financial SEZ along the lines of GIFT (Gujarat)...