Computer Age Management Services (CAMS) has announced its plans to set up an office at GIFT city (Gujarat) to provide asset management support services for financial institutions which have set up/setting up operations in GIFT City.
CAMS on Wednesday, 25 August 2021, was informed by International Financial Services Centres Authority (IFSC), Gandhinagar (Gujarat) authorising it to undertake "administration, asset management support services and trusteeship services." Earlier, the GIFT City Multi Services-SEZ issued a letter of approval to the company, extending the facilities and entitlements admissible to units in GIFT City.
Following the approvals, the company said that it is in the process of setting up an office at GIFT city to provide Asset Management Support Services for financial institutions which have set up /setting up operations in GIFT City.
CAMS has been serving the AIF (Alternative Investment Funds) segment for over twelve years and has deep domain experience in this arena serving several marquee Funds. The company setting up operations in GIFT city will enable it to readily offer this canvas of services to AIFs based out of GIFT city.
CAMS posted a 58.9% increase in consolidated net profit to Rs 63.24 crore on 35.4% rise in net sales to Rs 201.18 crore in Q1 FY22 over Q1 FY21.
Shares of CAMS jumped 3.02% to Rs 3,338.85 on BSE. CAMS is a technology-driven financial infrastructure and services provider to mutual funds and other financial institutions with over two decades of experience.
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