Mirae Asset Investment Managers (India) launches Mirae Asset Global Allocation Fund at Gift City
Mirae Asset Investment Managers (India) IFSC branch has launched Mirae Asset Global Allocation Fund IFSC, a Category III Alternative Investment Fund (AIF) close-ended restricted scheme (non-retail) under the IFSCA (International Financial Services Centers Authority) Fund Management Regulations. The fund will open for subscription on April 21.
Positioned as an outbound fund, this offering is designed to seek long-term capital appreciation for investors by potentially investing in a diversified portfolio of global equity exchange traded funds (ETFs) based on broad market indices and emerging themes.
Also Read | MF Tracker: This largest midcap mutual fund outshines across horizons. Will the streak continue?
Resident individual investors can invest through the Liberalized Remittance Scheme (LRS) upto a limit of USD 250,000 while family offices and institutions can invest through the Overseas Portfolio Investment (OPI) route upto a limit of 50% of their net worth.
Located at Gift City, India's premier international financial services hub, the Mirae Asset Global Allocation Fund IFSC targets a corpus of USD 200 million, with an additional green shoe option of USD 200 million. It is exclusively available to accredited investors or those committing a minimum subscription of above USD 151,000 with a cap of 1,000 investors as per IFSCA regulations. The fund's base currency is USD, and it will be managed by Mirae Asset Investment Managers (India) Pvt. Ltd. IFSC Branch.
Mirae Asset Global Allocation Fund aims to pursue opportunities in global markets by allocating 90 to 100% of its net asset value (NAV) to global ETFs across various jurisdictions, focusing on developed markets (US and China Markets), and key emerging themes (AI, Semiconductor).'Our latest offering is designed to provide investors, (predominantly resident investors) an avenue to take exposure in global markets and promising themes (AI, Semiconductor) through GIFT City investing route. Investors can invest in these funds within the LRS limits of 250K per person per financial year,' said Vaibhav Shah, Head of Products, Business Strategy & International Business, Mirae Asset Investment Managers (India).Also Read | 78% smallcap mutual funds outperform their benchmarks in one year. Have you invested in any for your portfolio? Read More Australian Dollar Primed to Benefit on USD Capitulation
'We have seen that by spreading investments across global markets and themes, investors are able to generate better risk adjusted returns and diversify their investments beyond the home country. We would like to leverage our expertise and global presence to create a curated bucket of Global ETFs which can create long term capital appreciation for investors,' he added.
According to the fund house, the fund aims to reduce single-country risk by spreading investments across developed and emerging markets, access to innovative sectors like AI, semiconductors etc which may drive future growth, and get potential benefits from the historical INR depreciation against USD, which could enhance returns for USD-denominated assets.
READ SOURCE businessmayor April 21, 2025
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