Mirae Asset MF to launch first GIFT City ETF, expand offerings

• Mirae Asset MF plans to expand its offerings in GIFT City, including new outbound global investment products.
• The firm intends to launch an active global equity AIF and potentially one of the first ETFs in the IFSC by early next year.
• Mirae Asset currently manages inbound and outbound AIFs from GIFT City, focusing on NRI investors.
• Challenges for GIFT City funds include slow fund transfers, lengthy onboarding processes, and strict individual KYC requirements.
• Mirae Asset sees GIFT City as a strong long-term opportunity but notes the need for improved awareness, capital flows, onboarding, and compliance.

Why It Matters: Mirae Asset's GIFT City expansion offers new global investment avenues, despite operational hurdles.