Mirae Asset Investment Managers (India), through its IFSC branch, has launched the Mirae Asset Global Allocation Fund IFSC — a Category III AIF, close-ended and non-retail, under IFSCA regulations. The fund opens for subscription on April 21, 2025, and targets long-term capital appreciation by investing 90–100% of its NAV in global equity ETFs focused on broad market indices and emerging themes like AI and semiconductors.
The fund is located in GIFT City, India’s international financial services hub, and seeks to raise USD 200 million, with an additional green shoe option of another $200 million. The base currency is US Dollar, and it’s exclusively open to accredited investors or those investing over USD 151,000, capped at 1,000 investors. Resident individuals can invest under the Liberalized Remittance Scheme (LRS) up to USD 250,000, while Family Offices and Institutions can invest via the Overseas Portfolio Investment (OPI) route, up to 50% of their net worth.
According to Vaibhav Shah, Head of Products, Business Strategy & International Business at Mirae Asset, the fund offers a curated portfolio of global ETFs, helping investors diversify beyond Indian markets and benefit from global megatrends.
This offering follows a growing trend among fund houses leveraging GIFT City’s IFSC framework. Mirae’s fund aims to stand out by combining its global ETF expertise with a focused thematic strategy in developed and emerging markets, creating a compelling option for those seeking diversified, long-term growth.
Several Indian asset managers are increasingly tapping into offshore investment opportunities via the GIFT City route, offering investors access to global markets through curated feeder structures and innovation-focused funds.
Similar funds have been introduced by WhiteOak Capital’s Global Innovation Fund, Aditya Birla Global Excellence Fund, and 360 ONE Asset’s global feeder structures, all aiming to tap offshore growth while offering Indian investors regulated access to global assets.
WhiteOak Capital’s Global Innovation Fund is structured as a Category III AIF under IFSCA regulations and focuses on disruptive global themes such as artificial intelligence, robotics, cloud computing, and biotechnology. It aims to offer long-term capital appreciation by investing in a diversified basket of global equities aligned with innovation-driven sectors.
Aditya Birla Global Excellence Fund is positioned as a global feeder fund, channeling investments into international mutual fund schemes that target companies with strong leadership, sustainable competitive advantages, and global reach. This fund provides Indian investors an opportunity to diversify beyond domestic markets and benefit from globally recognized companies.
360 ONE Asset’s global feeder structures similarly enable high-net-worth individuals and family offices to access international markets through carefully selected offshore fund linkages. These structures offer flexibility, diversification, and the benefit of global asset management expertise.