Marcellus and VanEck Expand GIFT City Offerings Marcellus Investment Managers has entered a partnership with global asset manager VanEck to broaden its GIFT City product line. While the firm’s earlier launch in June introduced a Global Equities Fund, the new collaboration will bring a multi‑asset strategy that spans equities, fixed‑income, commodities and real‑asset ETFs.
New Multi‑Asset Strategy Details Under the arrangement, VanEck will provide model portfolio recommendations, but Marcellus will structure and manage the product through its GIFT City entity. The strategy will be offered via a Category III AIF feeder structure that feeds into a master fund. Investors will gain exposure to global bonds, commodity ETFs and real‑asset themes such as gold, uranium, nuclear energy and semiconductors.
Why It Matters The launch is timely as GIFT City is becoming a preferred route for Indian investors seeking diversification beyond domestic markets. Moneycontrol reported that the IFSC now hosts almost 400 registered funds, a sharp rise from about 85 three years ago. The International Financial Services Centres Authority is also exploring secondary listings of global ETFs on IFSC exchanges, which could further widen the product range.
Marcellus’s founder, Saurabh Mukherjea, has repeatedly highlighted the tax and cost advantages of GIFT City for high‑net‑worth investors. The new multi‑asset offering aligns with that narrative, providing dollar‑denominated exposure and access to sectors that are under‑represented in India.
Context Marcellus’s GIFT City operations have built more than $75 million in assets across over 1,000 investors in nearly four years. The firm’s recent SEBI approval to launch a mutual‑fund business signals a broader strategy to serve a wider investor base beyond its existing PMS and AIF offerings.
What to Watch - The performance of the new multi‑asset strategy once it starts trading. - Potential secondary listings of global ETFs on IFSC exchanges, which could increase product diversity. - Any regulatory updates from the International Financial Services Centres Authority that may affect fund structures in GIFT City.
The partnership positions Marcellus as a key player in delivering diversified, dollar‑denominated investment options to Indian high‑net‑worth investors, while giving VanEck a foothold in the growing Indian market.