IFSCA Issues Stewardship Code for Fund Managers and Investors in IFSC

Circular F. No. IFSCA-AIF/132/2024-Capital Markets, Dated: 23.10.2025

The International Financial Services Centres Authority (IFSCA) has released a Framework on Stewardship Code applicable to fund management entities and institutional investors operating in the International Financial Services Centre (IFSC). The framework aims to strengthen investor protection and corporate governance standards within the IFSC ecosystem.

1. Objective of the Framework

The Stewardship Code seeks to ensure that entities managing or investing funds on behalf of clients act responsibly and transparently in the interests of their investors and the market. It encourages a long-term, sustainable approach to investment decision-making and engagement with investee companies.

2. Key Provisions

• Adoption of Stewardship Code –All regulated entities undertaking investment activities in the IFSC are encouraged to adopt a Stewardship Code that aligns with globally accepted principles and best practices.
• Disclosure Requirements – Entities adopting the Code must disclose their stewardship framework and implementation details to both the IFSCA and their investors, ensuring transparency and accountability.

3. Expected Impact

This framework is expected to:

• Promote responsible ownership and active engagement by institutional investors.
• Strengthen corporate governance practices across investee companies.
• Align IFSC’s investment environment with international stewardship and governance standards.

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