True Beacon forms FPI entity to attract overseas investment into Indian capital markets

New Delhi, September 8

To attract foreign investment into the Indian capital markets, asset management firm True Beacon on Tuesday said it has set-up a foreign portfolio investment (FPI) company.

The category-I FPI firm — Mauritius-based True Beacon International — will serve global ultra-high net worth and high net-worth individuals who wish to participate in and contribute to India’s growth story, the asset management company (AMC) said in a statement.

Further strengthening the leadership of the AMC as it expands across India and overseas, the company announced that Richard Pattle, who is currently senior advisor to True Beacon and Zerodha, will assume the full-time role of CEO of True Beacon.

Pattle is a former vice-chairman of Standard Chartered Private Bank and Master of the Household of Their Royal Highnesses.

In addition, the one-year-old True Beacon said its flagship fund — True Beacon One — which invests in Indian capital markets, recorded an outperformance of the NSE Nifty-50 benchmark by 26.6 per cent from September 2019 to August 2020.

The annualised returns for the fund were 29.7 per cent during the period.

Nikhil Kamath, co-founder and CIO True Beacon and Zerodha, said the AMC services ultra-high net worth and high net-worth individuals and employs a disruptive revenue model with zero management and standing fees.

Instead, the company charged a 10 per cent performance reward on any gains achieved and provides liquidity for investors through an open-ended fund structure, he added. PTI

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