Marcellus and VanEck Partner to Expand Global Investing Options via GIFT City

Expanding Global Asset Access for Indian Investors

The landscape of investing for Indian high-net-worth individuals (HNIs) is shifting toward more diversified, global portfolios. On October 7, 2026, it was reported that Marcellus Investment Managers, led by Saurabh Mukherjea, has entered into a strategic partnership with global manager VanEck. This collaboration aims to move beyond traditional equity-only portfolios to a comprehensive multi-asset strategy.

For many Indian investors, global exposure has historically been limited to a few stock markets or indirect routes. This new initiative introduces a structured approach to global equity ETFs, bond ETFs, commodities, and real asset ETFs, providing a more balanced hedge against domestic market volatility.

The Multi-Asset Strategy and Thematic Exposure

Under this arrangement, VanEck provides the model portfolio recommendations, while Marcellus handles the structuring and management of the strategy. This allows investors to move past the standard mix of Indian equities and gold into specialized global themes. According to The Economic Times, these thematic exposures include sectors such as semiconductors, uranium, and nuclear energy.

Beyond thematic growth, the strategy serves two critical functions for wealth management: dollar diversification and wealth preservation. By holding assets denominated in USD, investors can mitigate the impact of rupee depreciation while accessing institutional-grade global bonds and real assets.

How the GIFT City Route Works

The operational hub for this offering is Marcellus GIFT City, the firm's branch located in the International Financial Services Centres Authority (IFSCA) regulated zone. To facilitate this, the platform utilizes a Category III AIF (Alternative Investment Fund) feeder structure that flows into a master fund.

This regulated route is designed to be more tax-efficient and transparent than the indirect methods previously used by Ultra High Net Worth Individuals (UHNIs). The scale of this operation is already significant; Marcellus noted that its GIFT City platform has attracted over 1,000 investors and managed more than $75 million in assets over nearly four years.

Comparison: Traditional vs. New Global Investing Route

Feature	Traditional Indirect Routes	Marcellus GIFT City Route
Asset Scope	Primarily Global Equities	Equities, Bonds, Commodities, Real Assets
Regulation	Varies/Often Complex	Regulated by IFSCA
Structure	Individual Foreign Accounts	Category III AIF Feeder Structure
Specialization	General Market Indices	Thematic (e.g., Nuclear, Semiconductors)