Ionic Global Innovation Fund for HNIs via GIFT City

Mumbai, Jul 31 (PTI) Angel One-backed Ionic Asset on Thursday announced the launch of the Ionic Global Innovation Fund (GIF), aimed at offering Indian high-net-worth individuals (HNIs) long-term exposure to innovative global companies through the GIFT City route.

This Category-III AIF will help investors use their LRS (Liberalized Remittance Scheme) up to USD 250,000/year and OPI (Overseas Portfolio Investments) limits up to 50 per cent of the net worth of companies for currency and country diversification, especially when mutual fund limits are fully utilised, the company said in a statement.

Structured through GIFT City feeder and global master route, GIF provides access to global growth stories across the US, Europe, China, and East Asia through a sector-agnostic, geography-agnostic, select stock portfolio, it added.

"The Ionic Global Innovation Fund offers HNIs and institutions access to the world's most innovative companies through a sector and geography-agnostic investment approach," Ionic Asset's CEO Nalin Moniz, said.