The fund is a close-ended, non-retail scheme. It seeks long-term capital appreciation by investing in global equity ETFs.
These ETFs are based on broad indices and emerging themes such as artificial intelligence and semiconductors.
The fund is based at GIFT City, India’s international financial hub. It aims to raise $200 million, with a green shoe option of another $200 million.
Subscriptions opened on Monday, April 21, 2025.
Investors can gain exposure to global markets and diversify beyond domestic equities. The fund will allocate 90–100% of its NAV to global ETFs across jurisdictions, primarily in US and China markets.
The minimum subscription amount is $151,000. The fund is capped at 1,000 investors and is available only to accredited investors. Resident individuals can invest through the Liberalised Remittance Scheme (LRS), up to USD 250,000 per year.
Family offices and institutions can use the Overseas Portfolio Investment (OPI) route, up to 50% of their net worth.
The fund is denominated in dollar and will be managed by Mirae Asset’s IFSC branch.
Vaibhav Shah, Head of Products, Business Strategy & International Business, said, “This fund allows resident investors to access global markets and promising themes via GIFT City. Spreading investments globally can help generate better risk-adjusted returns.”
Mirae Asset opened its IFSC branch in 2023. It already manages ~$300 million in UCITS funds and launched its first inbound fund last year targeting global investors.