Broaden Your Horizon: The Marcellus Global Equities Fund NFO

International diversification is getting a major upgrade. On June 8, 2026, Marcellus Investment Managers is launching its first-ever Marcellus Global Equities Fund via GIFT City.

Benchmarked against the S&P 500 Net Total Return Index, this Outbound Retail Scheme allows you to invest directly in U.S. Dollars (USD)—providing a natural hedge against rupee depreciation and direct access to global giants.

The NFO Blueprint at a Glance

The Big Catch: The Fund-Level Tax Trap

While this fund offers a smooth route to global markets, its tax structure is one of its biggest hurdles.

Because it operates as a retail trust scheme in GIFT City, taxation happens entirely at the fund level when the fund sells securities, rather than at the individual investor level upon redemption. This creates a massive disadvantage:

• No Loss Offsets: If you exit your units or if the fund incurs losses on its transactions, those capital losses cannot be passed down to you. You cannot set off these fund-level losses against any of your other personal capital gains or income.

Furthermore, high short-term tax brackets paid by the fund internally directly drain the Net Asset Value (NAV), creating an invisible drag on your long-term compounding returns compared to direct foreign stock investing.

Is This Fund Right For You?

This NFO is worth considering only if you:

• Want true USD-denominated assets to fund specific future global goals (like foreign education).
• Are comfortable with the USD 5,000 minimum entry.
• Accept a unique tax structure where fund performance and tax friction are permanently baked directly into the NAV.

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