Today's Edition
ABU DHABI (ALETIHAD)
Kotak Mahindra (International) Limited (KMIL), a wholly owned subsidiary of Kotak Mahindra Bank Limited, has secured a licence from the UAE Securities and Commodities Authority (SCA) to conduct Investment Fund Management and Portfolio Management activities.
With this approval, KMIL has become the first Indian firm to receive such a licence from the SCA, a press release announcing the decision said. It marks a significant milestone in cross-border financial services and sets the stage for the launch of UAE-domiciled funds for retail investors.
“We are honoured to receive this licence from the UAE regulator. It is a testament to our enduring commitment to the UAE and our vision of fostering globally integrated, transparent capital markets,” said Shyam Kumar, President and Head of Kotak International.
“India’s economic momentum continues to attract global interest, and through this licence, we are excited to offer UAE retail investors access to our India-focused investment strategies – enabling them to participate in one of the world’s dynamic and resilient markets. We will offer India-centric investment options to help investors diversify their portfolios.”
The company said it plans to leverage the licence by launching retail-focused solutions in the UAE aligned with its successful UCITS (Luxembourg-domiciled) and India-domiciled strategies. Subscriptions for these funds are expected to open by the final quarter of 2025.
The approval underscores Kotak Group’s approach of working with regulators worldwide to expand access to capital markets. Alongside India, the group holds regulatory approvals in the USA, UK, Singapore, Mauritius and now the UAE.
Kotak International, the global business arm of the Kotak Group, connects investors with India’s growth story through a range of asset management, advisory and investment offerings. With more than three decades of experience and $6.08 billion assets under management, the firm operates across key financial hubs including Singapore, London, New York, Dubai and Mauritius.
