Marcellus Investment Managers’ GIFT City branch has launched the Marcellus Global Equities Fund, a retail investment scheme that will provide Indian resident investors access to overseas equities through the International Financial Services Centre (IFSC) framework in GIFT City The new fund offer (NFO) will open on June 8 and close on June 19. According to the fund house, the scheme will invest in global companies linked to themes such as defence and aerospace, power generation, artificial intelligence-related capital expenditure, and luxury consumption.
The fund has been classified as a retail scheme under regulations of the International Financial Services Centres Authority (IFSCA). It requires a minimum investment of $5,000, with subsequent top-ups starting at USD 2,000 Marcellus said the fund will allow investors to gain exposure to dollar-denominated assets through a regulated domestic structure rather than investing overseas directly.
The scheme will levy a total expense ratio of 2% per annum and an exit load of 2% on redemptions made within 24 months. There is no lock-in period, and the net asset value (NAV) will be declared daily.
Under the structure, taxes will be paid at the fund level. Long-term capital gains will be taxed at 12.5% after a holding period of two years, while gains realised before two years will be taxed at the fund’s applicable marginal rate, according to the fund house. Investors will be able to complete onboarding digitally using PAN and Aadhaar and will not be required to open a separate bank account in GIFT City. The fund also offers redemption in foreign currency.
Marcellus said the fund is aimed at investors seeking geographical diversification and exposure to global equity markets through the GIFT City IFSC ecosystem
