New Delhi, Jan 20 (PTI) Aditya Birla Sun Life AMC Limited on Thursday said it has received approval from IFSCA to carry out portfolio management services through a branch office in International Financial Services Centre (IFSC).

The company's move to set up new unit at the Gujarat International Finance Tec-City (GIFT City) is a strategic step towards growth of its international business to expand its reach and service global clients, including NRIs for investing in India, the asset management firm said in a statement.

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Aditya Birla Sun Life AMC is the fourth largest asset manager in the country with presence in over 280 locations pan-India and already has a presence in international markets such as Dubai, Singapore and Mauritius.

"This is a significant development in the overall business model of ABSLAMC. Through our GIFT IFSC branch we will be able to provide investment management and advisory services to prospective and existing clients across sovereign wealth funds, family offices, global funds, institutional investors, high net worth individuals, among others," A Balasubramanian, MD and CEO, Aditya Birla Sun Life AMC said.

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The International Financial Services Centres Authority (IFSCA) is a unified authority for the development and regulation of financial products, financial services and financial institutions in the IFSC in India.

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