Mirae Asset launches $200M global investment fund targeting AI & semicon

The fund focuses on long-term growth via diversified global ETFs with a currency advantage

Mirae Asset has launched a new fund, Mirae Asset Global Allocation Fund IFSC, to help Indian investors gain exposure to international markets and high-growth sectors like artificial intelligence (AI) and semiconductors.

 

The fund, launched through the company’s IFSC branch at GIFT City, aims to provide long-term capital appreciation by investing in a portfolio of global equity exchange traded funds (ETFs).

 

These ETFs will be based on broad market indices and high-growth sectors such as artificial intelligence (AI) and semiconductors.

 

The fund will allocate 90–100 per cent of its net asset value (NAV) to global ETFs across developed markets like the US and China.

 

The new fund is positioned as an outbound scheme under the International Financial Services Centres Authority (IFSCA) regulations and is available only to accredited investors or those investing more than $151,000.

 

Key highlights of the fund

 

- Global diversification: It aims to reduce single-country risk by spreading investments across developed and emerging economies.

 

- High-growth themes: It bets on innovative sectors like AI, semiconductors etc which may drive future growth.

 

- Currency advantage: Potential benefits from the historical INR depreciation against USD, which could enhance returns for USD-denominated assets.

 

Fund details

 

- Fund type: Category III AIF (close-ended, non- retail)

 

- Target corpus: $200 million, with an additional green shoe option of $200 million

 

- Investment allocation: 90–100 per cent in global ETFs across jurisdictions

 

- Fund manager: Mirae Asset Investment Managers (India) Pvt. Ltd. – IFSC Branch

 

- Subscription opens: April 21

 

- Minimum application: $151,000 (or equivalent)

 

- Open to accredited investors only

 

- Maximum cap of 1,000 investors as per IFSCA regulations

   

Resident individuals can invest through the Liberalised Remittance Scheme (LRS) up to $250,000 per financial year. Family offices and institutions can invest through the Overseas Portfolio Investment (OPI) route, up to 50 per cent of their net worth.

 

“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 the GIFT City investing route,” said Vaibhav Shah, head of Products, Business Strategy & International Business, Mirae Asset Investment Managers (India) Pvt. Ltd.

 

“Investors can invest in these funds within the LRS limits of $250,000 per person per financial year. 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.