DSP MF Launches First Retail Offshore Fund via GIFT City

Global Equity Fund Lets Indian Residents Invest as Little as $5,000 in Diversified Global Stocks

- Neil Borate & Anil Poste

India's first retail-focused offshore mutual fund has quietly opened its doors—not from Mumbai, but from the country's nascent international finance hub, GIFT City.

DSP Mutual Fund's new Global Equity Fund, launched on 2 June, allows Indian residents to invest as little as $5,000 in a diversified basket of global stocks—without relying on offshore brokerages, feeder funds, or cumbersome tax filings. It's the first open-ended mutual fund targeting retail investors to debut under GIFT City's updated 2025 framework, and a litmus test of whether the finance hub can truly broaden access beyond institutions and high-net-worth individuals.

Mirae Asset Mutual Fund has also received similar approval from the International Financial Services Centres Authority (IFSCA) to launch retail-focused offshore funds, though it has yet to announce a specific product.

More than just a regulatory first, DSP's new fund could help Indian asset managers reclaim outbound flows long dominated by foreign platforms. It offers a cleaner, tax-friendly alternative within India's regulatory perimeter.

The DSP Global Equity Fund, currently in its New Fund Offer (NFO) phase, will accept inflows for up to six months, but is likely to close in 30-40 days. It can continue accepting investments even after the NFO closes. The fund will invest in 30-50 global companies across markets such as the US, Europe, Japan, South Korea, China, and Canada.