Transforming Financial Services in IFSC

Mirae Asset Launch – Overview

• Mirae Asset IFSC has launched a close-ended, non-retail Category III AIF – the Global Allocation Fund – under IFSCA regulations.
• The fund opened for subscription on April 21 2025 and targets a base corpus of USD 200 million, with an additional green shoe option of another USD 200 million.
• The fund aims to invest 90–100% of its assets in global equity ETFs to capture long-term gains across diverse themes and regions.
• The key investment themes include AI and semiconductors, with a focus on developed markets like the US and China.

Who Can Invest & Why It Matters

• The Mirae Asset Global Allocation Fund IFSC is open to resident individual investors through the Liberalized Remittance Scheme (LRS), allowing investments up to USD 250,000 per financial year.
• Family offices and institutions can invest via the Overseas Portfolio Investment (OPI) route, with a limit of up to 50% of their net worth.
• The fund requires a minimum subscription of USD 151,000 and is capped at 1,000 investors as per IFSCA regulations.
• It offers investors the advantage of global diversification, exposure to high-growth themes like AI and semiconductors, and potential USD gains from INR depreciation.

IBAI Strategic Vision – Collaboration & Growth

• The Insurance Brokers Association of India (IBAI) has launched its IFSC chapter at GIFT City, reinforcing its commitment to strengthening international insurance broking from India.
• This move promotes ethical growth, global integration, and innovation, while boosting engagement with IFSCA and international markets.
• The launch marks a key moment as IBAI approaches its Silver Jubilee in July 2025. Brokers will be key enablers of a transparent, global insurance ecosystem.

Driving Future Growth in Financial Services

• IBAI is driving innovation and global integration, with a key focus on creating tailored insurance products for 32 million NRIs worldwide.
• IBAI also plans to collaborate with the Indian Banks’ Association within GIFT City to explore joint financial solutions.
• Embracing advanced technologies like AI, the association aims to modernize insurance offerings and improve operational efficiency.
• Additionally, strengthening reinsurance capacity remains a strategic goal to support the sector’s sustainable expansion.

CONCLUSION

• Mirae Asset’s Global Allocation Fund opens new opportunities for Indian investors to tap into global growth, while IBAI’s IFSC chapter strengthens India’s position as a leader in global insurance broking.
• These developments further cement GIFT City’s status as a key gateway to global financial markets, highlighting its pivotal role in shaping India’s financial future.