HDFC Group launches life insurance, asset management services from GIFT IFSC

“We look forward to further contributing to the India growth story and to make world-class foreign currency denominated insurance solutions available for NRIs and global Indians through HDFC Life International and; Indian investment solutions available to global investors and global investment solutions available to resident investors through HDFC AMC International (IFSC) Ltd,” Deepak Parekh, Chairman, HDFC Life and HDFC AMC, said.

Also, the first product by HDFC Life International – US Dollar Global Education Plan- is open for enrolment and is designed to help parents build a US dollar-denominated corpus to meet future expenses for their child’s overseas education.This product is aimed at eliminating any future mismatch between the currency of investment and the currency of expenses.

Further, HDFC AMC International plans to initially launch six funds which would feed into different HDFC Mutual Fund schemes covering strategies on equity and hybrids.

This decision is aimed at expanding the global outreach and for opening up new markets for the products and services offered by the asset management firm.

Over a period of time, HDFC AMC International plans to boost its solutions with addition of products on alternate strategies, including those on private assets.