GIFTed Insights Ep 18: ABSL Flexicap Fund for NRIs - navigating the PFIC headache
About the Event
We're back with GIFTed Insights Ep 18, and this time we're exploring how NRIs and global investors can access India equity exposure through GIFT City, with a fund structure that solves one of the biggest pain points in cross-border investing.
For US investors specifically, PFIC (Passive Foreign Investment Company) classification has been one of the biggest barriers to investing in Indian funds. Most Indian fund structures get caught by PFIC rules, triggering punitive tax treatment that makes the filing burden alone a deterrent.
The ABSL India Flexicap Fund (GIFT City) is structured differently. As a GIFT City AIF, it provides K-1 statements to US investors, helping address PFIC-related tax challenges and offering a reporting structure that US tax filers are already familiar with.
For other NRI investors, GIFT City's tax-neutral, USD-denominated framework offers a cleaner path to India equity exposure compared to traditional NRE/NRO routes.
To help unpack how this works and what it means for your portfolio, we're hosting a conversation with Sudhir S, Fund Manager of the ABSL India Flexicap Fund (GIFT City), who will walk through the fund's strategy, structure, and how it handles US tax reporting.
Following the session, the Belong team will host an open AMA on India investing, GIFT City, taxation, or anything else on your mind.
In this session, we'll cover:
✅ How the ABSL India Flexicap Fund (GIFT City) is structured for global investors
✅ The fund's investment strategy: flexicap exposure across large, mid, and small cap Indian equities
✅ What K-1 reporting means for US investors and how it addresses PFIC concerns
✅ Risks, liquidity, and investor suitability
Why this matters:
✅ PFIC classification has kept many US-based NRIs away from Indian funds for years
✅ K-1 reporting offers a more tax-efficient and familiar structure for US investors
✅ GIFT City's IFSC framework provides zero capital gains tax in India for non-residents
Who should attend:
✅ US-based investors exploring India equity exposure without PFIC complications
✅ NRIs looking for tax-efficient India investing options
✅ Investors interested in flexicap strategies through GIFT City
✅ Anyone curious about how GIFT City structures solve cross-border tax challenges for North American investors
Whether you've been avoiding Indian investing because of PFIC, or you're an investor unsure about how GIFT City fits into your investments portfolio, this session is designed to give you clarity.
📅 Date: 14th June 2026
🕒 Time: 10:30 AM - 11:30 AM ET
📍 Format: Online
AIF Eligibility Note
GIFT City AIFs are available only to eligible investors and are not intended for retail investors or public distribution.
The standard minimum investment in an AIF is USD 150,000.
A lower minimum investment may be available only for eligible Accredited Investors. You may qualify as an Accredited Investor if you meet either of the following criteria:
• Income criteria: Annual income of USD 200,000 or more in the previous financial year, with a reasonable expectation of similar income in the current financial year; or
• Net worth criteria: Net worth of USD 1 million or more, excluding primary residence, with at least USD 500,000 held in financial assets.
Accredited investor status, investment eligibility, and fund acceptance are subject to verification.