PPFAS has announced plans to launch two new passive, GIFT City-based outbound funds: Parag Parikh IFSC S&P 500 FOF and Parag Parikh IFSC Nasdaq 100 FOF. The new fund offer or NFO of both these funds will open for subscription from February 23 to March 16.

According to the fund house, these funds are retail funds launched by PPFAS Gift which will directly invest all monies into S&P 500 and NASDAQ 100 accumulating ETFs and UCITS. Both funds use a passive strategy, giving investors direct exposure to the S&P 500 and NASDAQ 100 indices without requiring them to open foreign brokerage accounts.

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These funds will invest 90-100% in ETFs and UCITS linked to their respective index and 0-10% in Debt Securities, Money Market Instruments & other similar instruments. The face value for these funds is US$ 100, the NAV computation is on a daily basis and purchase and redemption is on all business days.

The target investors for both these funds are – Indian resident individuals, corporates, trusts, partnership firms and other eligible investors.

There is no lock-in period or exit load applicable. The funds offer two classes of units – A and B. A is for direct and B is for regular and the minimum initial investment in both the classes of units is US$ 5000, the minimum top-up in these funds is US$ 500. The total expense ratio of the schemes in both A and B classes of units are also the same with a difference in Max TER including Investee Funds.
PPFAS informed about these new offerings on social media platform X which said “Invest beyond borders. Two global opportunities. One launch window. The NFO for Parag Parikh IFSC S&P 500 Fund of Fund and Parag Parikh IFSC Nasdaq 100 Fund of Fund is open from 23rd February to 16th March 2026. Explore international exposure through GIFT City.”According to PPFAS, these funds offer some advantages for investors on investing through these funds compared to direct investing. These advantages include: no inheritance tax implications, ease of tax compliance for investors (tax paid at the fund level), the OPI route being allowed only through a GIFT City-based pooled vehicle, optimization of involved costs (FX conversion & transaction costs), and a strong compliance and governance framework.

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Kotak Mahindra Bank is the custodian and banker, IC RegFin Legal Partners LLP is the legal advisor, SDKD & Associates LLP is the Statutory Auditor, and Apex Fincore LLP is the fund accountant.

In November 2025, PPFAS announced it had received approval to launch two new passive, GIFT City-based outbound funds.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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The Reserve Bank of India’s amendment, effective 1 April 2026, ushers in sweeping changes to funding structures, collateral norms, and exposure rules within the capital markets ecosystem — a move that could reshape the operating landscape for stock brokers.

A key change under the amendment is the shift toward fully secured funding for brokers. Going forward, only 100% secured funding will be permitted, with limited carve-outs such as intra-day settlement timing facilities. Earlier, bank guarantees for instance of Rs 100 could be structured with Rs 50 backed by fixed deposits and the remaining Rs 50 supported through unsecured instruments such as personal or corporate guarantees. The revised framework removes this flexibility.

The amendment also introduces stricter rules for bank guarantees issued in favour of exchanges or clearing corporations. A minimum of 50% collateral will now be required, of which at least 25% must be in cash. In addition, equity shares accepted as collateral will be subject to a minimum haircut of 40%, marking a tightening of collateral valuation norms.

Another significant change relates to proprietary trading. Banks will no longer be permitted to provide funding for prop trading activities, with exceptions limited to areas such as market making and certain debt warehousing functions. Further, all exposures will now be classified as capital market exposure, meaning that banks’ overall limits for such exposures will apply, potentially affecting lending appetite.

The framework also introduces ongoing collateral monitoring and margin call provisions. Collateral cover will need to be maintained on a continuous basis, and facility agreements must include explicit clauses for margin calls in the event of shortfalls.

Overall, the amendment is expected to reduce leverage across the system and increase capital blockage for brokers. Bank guarantee costs are likely to rise under the revised structure, while promoter guarantees alone will no longer suffice as adequate support.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Chinese robovan company Zelos Technology has bolder ambitions after striking a deal to create a $2 billion business with Alibaba’s logistics arm.

Its next step? Investing in core technology and accelerating overseas expansion as it looks to dramatically expand the size of its fleet.

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