Mirae Asset launches Global Allocation Fund for non-retailers, eyes $200 million investments

Mirae Asset on Monday launched and commenced offering a new fund in India under the International Financial Services Centres Authority (IFSCA) Fund Management Regulations.

What is the purpose of the fund?

The company has rolled out this close-ended fund for non-retail investors with some to restricted investors for long term investments in global equity exchange-traded funds (ETFs), citing that it is an outbound fund.

Mirae Asset Global Allocation Fund IFSC NFO allocation details

Those who want to invest in global markets, especially in artificial intelligence and semiconductors sector stock, the company has fixed between 90-100 per cent allocation its net asset value (NAV) to ETFs tracking broad market indice. IT will focus on major international markets, including US and China.

Here’s how retail investors can participate in the NFO

The fund has some boundaries for retail investors; however, they (RII) can invest in this scheme, but how? Such investors may participate in the scheme via the Liberalized Remittance Scheme (LRS) with a huge investment limit of up to $2.5 lakh.

“Family Offices and Institutions investors can invest though the pverseas portfolio investment (OPI) route upto a limit of 50 per cent of their net worth,” Mirrae Asset said.

What are limits for the investors?

As it targets a base corpus of USD 200 million, with an additional green shoe option of USD 200 million, subject to demand.

Here are some limitations and other details of the fund:

• Initially, the fund is aiming to raise $200 million.
• If there's more demand, it can raise an additional $200 million, which is also known green shoe option

Only certain investors can invest — either:

• Accredited investors, or anyone investing more than $151,000
• The total number of investors is limited to 1,000
• The fund's currency is US Dollars

NFO Open Date

Subscriptions for the fund have been commenced on Monday, April 21, 2025, and fund management responsibilities will be overseen by Mirae Asset Investment Managers India, IFSC branch, headquartered at GIFT City.