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Hyderabad: KFin Technologies Limited (KFintech), a leading technologydriven financial services platform providing comprehensive services and solutions to the capital markets ecosystem across asset classes, has announced the launch of its operations in GIFT City today. KFintech has formally signed up with 4GIFT city funds and 2 global funds in GIFT City, as discussions with some other asset managers continue. KFintech will hire over 600 employees to service various global clientele and will be hiring a majority of resources generating local employment

KFintech provides end-to-end services for its clients across fund administration and transfer agencies. The firm's fund administration platform is a multi-geography, multi-currency Investment Management product that comprehensively addresses functionalities required by all verticals of the Fund Management industry. It covers almost all Asset classes (around 50 in number) and is tailored for use by fund accounting service providers.

Sreekanth Nadella, MD and CEO, KFin Technologies said, “With IFSCA established with an intent to provide a world-class regulatory environment as a unified regulator with a high degree of inter-regulatory coordination and a holistic vision to promote ease of doing business in GIFT City, it’s an important step towards bringing financial services transactions relatable to India, back to Indian shores. Our presence in GIFT City will provide the clients wishing to set up their presence in GIFT City with the required market infrastructure and services.

Indian asset managers have expanded their businessgloballyand in GIFT City in addition to foreign fund managers domiciling their funds in GIFT city. This has led to an increased requirement for fund management solutions and services to be administered from GIFT City. KFintech has been the front runner in servicing this growing client class with the help of anintegrated technology platformoffering RTA, Fund accounting, Digital, and all allied administration services for the Fund. Our IBU in GIFT City will cater to this growing demandacross alternatives, private wealth, and portfolio management services. With around 35% of the market share in servicing alternative clients, our business is expanding locally and globally.”