Marcellus Investment Managers has announced the launch of the Marcellus Global Equities Fund, a new offering designed to provide Indian resident investors with direct access to international stock markets and dollar-denominated assets. Operating from its International Financial Services Centre (IFSC) platform in GIFT City, Gujarat, the New Fund Offer (NFO) is set to open on June 8, 2026, and will close on June 19, 2026.
The fund, regulated by the International Financial Services Centres Authority (IFSCA), represents a significant opportunity for Indian investors looking to diversify their portfolios beyond rupee-denominated assets and gain exposure to global economic trends. It aims to address a fundamental imbalance where many Indian financial goals, such as overseas education and international travel, are priced in dollars, while their wealth remains largely rupee-based.
Focus on Global Megatrends
Marcellus has strategically positioned the fund to invest in high-quality global companies poised to benefit from four powerful, long-term structural themes:
- Defence and Aerospace: Driven by increasing global defence spending.
- Power Generation: Responding to the surging demand for energy and data infrastructure, particularly with the rise of artificial intelligence.
- Artificial Intelligence-Linked Capital Expenditure: Targeting companies at the forefront of AI development and infrastructure.
- Luxury Consumption: Capitalizing on the sustained demand for premium consumer brands worldwide.
According to Marcellus, these sectors are propelled by powerful global trends, offering opportunities for businesses that can consistently compound capital and generate sustainable earnings growth across various economic cycles.
Bridging the Dollar-Rupee Gap
"Most Indian investors have built their wealth entirely in rupee-denominated assets, even as their aspirations—foreign education, global travel, luxury goods, and technology—are priced in dollars," stated Saurabh Mukherjea, Founder of Marcellus Investment Managers. "The Marcellus Global Equities Fund is our answer to this fundamental imbalance. We are bringing the same rigour and quality-first investment philosophy that has defined Marcellus in India to the global stage, making it accessible to every Indian investor through a simple, regulated, and tax-efficient structure."
The scheme is specifically tailored for investors whose future financial objectives are increasingly tied to global spending patterns. By investing in this fund, Indian residents can achieve dollar-based wealth creation through a regulated Indian framework, circumventing the complexities of direct overseas investments.
Investment and Tax Details
Classified as a Retail Scheme under IFSCA regulations, the Marcellus Global Equities Fund offers several key features:
- Minimum Investment: USD 5,000
- Additional Investments: USD 2,000 onwards
- Total Expense Ratio (TER): 2% per annum
- Exit Load: 2% on redemptions made within 24 months
- Lock-in Period: None
- NAV Declaration: Daily
Investors can complete the onboarding process digitally using only their PAN and Aadhaar, without the need to open a separate bank account in GIFT City. The fund also provides the flexibility to redeem investments in foreign currency.
Tax Efficiency and Diversification Benefits
A significant advantage of this fund structure is that taxes are paid at the fund level, which simplifies compliance for individual investors. Long-term capital gains, realized after a holding period of two years, are taxed at 12.5%. Gains realized within two years are subject to the fund's applicable marginal rate.
Arindam Mandal, Head of Global Equities at Marcellus Group, emphasized the current market conditions: "We are at the intersection of four powerful multi-trillion-dollar megatrends—the resurgence of defence and aerospace spending, the AI-driven surge in power and data infrastructure, and the enduring pricing power of iconic luxury brands. This fund brings that opportunity directly to Indian investors."
Marcellus highlighted the historical benefits of global diversification, noting that markets like the United States have consistently delivered double-digit dollar returns over extended periods. The launch further solidifies GIFT City's role as India's gateway for international investing, offering regulated access to global markets for resident investors.