Monarch Networth Capital IFSC Private Limited, a wholly owned subsidiary of the MNCL Group, has secured a Registered Fund Management Entity (Retail) license from the International Financial Services Centres Authority (IFSCA). This development allows the company to operate as a retail fund manager from its base at GIFT City, India’s international financial hub.
With this license, Monarch IFSC can now engage in a broad spectrum of fund management activities. These include investing in securities and financial products, managing retail investment schemes, launching Exchange Traded Funds (ETFs), and overseeing public offerings for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs). The license also permits the management of Family Investment Funds and allows the firm to conduct non-retail fund activities such as restricted schemes, special situation funds, and Portfolio Management Services (PMS), including multi-family office structures.
The approval positions Monarch Networth Capital among a select group of Indian institutions with FME (Retail) status at GIFT IFSC. Notably, most license holders are established asset management companies, making Monarch one of the few non-AMCs to gain entry.
Monarch already manages approximately ₹900 crore in long-only equity assets under its domestic AIF arm, Monarch AIF. As it marks five years of operation, the group plans to expand its offerings by launching equity-focused products from GIFT City in FY26, targeting foreign investors under the AIF framework. Additionally, the firm has submitted an application for a Mutual Fund license during FY25 and is working closely with regulatory authorities to meet necessary compliance requirements.
This new license reflects the group’s growing footprint in international financial services and aligns with its broader strategy to enhance product diversity for global and domestic clients.
