360 ONE GIFT City Fund Review: Investment Strategy, Fees & Portfolio (2026)
360 ONE GIFT City Fund: A Gateway to Global Investing for NRIs
The 360 ONE GIFT City Fund offers NRI investors an opportunity to access a globally diversified equity portfolio managed by one of the world’s most respected asset managers. Structured through GIFT City IFSC, the fund provides exposure to Capital Group’s flagship New Perspective Strategy, enabling investors to participate in long-term global growth themes such as artificial intelligence, healthcare innovation, industrial transformation, and digital disruption.
For decades, Indian investors—especially NRIs—have found it challenging to build a diversified international portfolio. While Indian equities have generated strong long-term returns, concentrating wealth in a single market can increase portfolio risk. The 360 ONE GIFT City Fund addresses this by offering professionally managed global equity exposure through an India-based investment platform, making it easier for eligible investors to diversify their portfolios beyond India.
| Fund Details | Information |
|---|---|
| Fund Type | Category III AIF |
| Structure | GIFT City IFSC |
| Currency | USD |
| Underlying Fund | Capital Group New Perspective |
| Investment Style | Global Equity |
| Stocks | ~259 |
| Manager | Capital Group |
| Suitable For | NRIs & HNIs |
| Investment Horizon | 5–10 Years |
What is the 360 ONE New Perspective Fund?
The 360 ONE New Perspective Fund is a Category III Alternative Investment Fund (AIF) established in GIFT City IFSC.
It is a feeder fund, meaning it invests substantially into the Capital Group New Perspective Fund, one of Capital Group’s flagship global equity strategies managing over US$236 billion under this strategy.
Fund Snapshot
| Feature | Details |
|---|---|
| Fund Structure | Category III AIF (GIFT City) |
| Investment Style | Global Equity |
| Underlying Manager | Capital Group |
| Underlying Strategy | New Perspective Fund |
| Strategy Inception | 1973 |
| Number of Stocks | Approximately 250–260 |
| Currency | USD |
| Investment Universe | Global Listed Equities |
Why GIFT City Matters for NRI Investors
GIFT City has become India’s international financial hub, allowing Indian and overseas investors to access international investments through an Indian regulatory framework.
Some advantages include:
- USD-denominated investments
- Easier global investing without opening foreign brokerage accounts
- Access to international fund managers
- Regulatory oversight by IFSC Authority
- Estate planning benefits compared to direct US stock ownership (depending on investor circumstances)
- Opportunity to diversify outside Indian assets
For many NRIs already holding Indian real estate, fixed deposits and Indian equities, GIFT City provides an efficient route to geographic diversification.
Investment Thesis: Why This Fund Exists
Unlike traditional global funds that simply allocate across countries, Capital Group’s strategy focuses on companies benefiting from long-term structural changes in the global economy.
Their investment philosophy revolves around identifying multinational businesses positioned to benefit from decades-long trends rather than short-term market movements.
According to the presentation, the fund focuses on four transformational themes:
Artificial Intelligence
Opportunities across:
- Semiconductor manufacturers
- Cloud infrastructure
- Data centres
- Enterprise software
- AI adoption across industries
Healthcare Innovation
Capital Group believes healthcare is entering another major innovation cycle driven by:
- Genomics
- Obesity drugs
- Oncology
- Medical devices
- AI-assisted drug discovery
Industrial Renaissance
The fund expects continued investments in:
- Energy transition
- Electrification
- Automation
- Supply chain reshoring
- Aerospace & defence
- Digital infrastructure
Changing Consumer Trends
Long-term opportunities include:
- Digital payments
- Travel
- E-commerce
- Rising middle class in emerging markets
- Premium consumption
Capital Group: Why the Manager Matters
One of the strongest reasons investors consider this fund is Capital Group itself.
Founded in 1931, Capital Group manages approximately US$3.1 trillion globally and employs a distinctive Capital System™, where multiple portfolio managers independently manage portions of the portfolio instead of relying on a single star manager. This approach aims to reduce key-person risk while incorporating diverse investment perspectives.
Highlights include:
- 90+ years of investment experience
- 480+ investment professionals
- 11 global research offices
- 21,000+ annual company meetings
- 6,000+ companies under research coverage
Portfolio Composition
Unlike passive ETFs that heavily concentrate in a handful of US mega-cap technology stocks, the strategy owns approximately 259 companies across sectors and geographies.
Top Holdings
As of May 2026, major holdings include:
| Company | Sector |
|---|---|
| TSMC | Semiconductors |
| Meta Platforms | Communication Services |
| NVIDIA | Artificial Intelligence |
| Broadcom | Semiconductors |
| Alphabet | Internet |
| Microsoft | Software |
| Tesla | EV |
| AstraZeneca | Healthcare |
| ASML | Semiconductor Equipment |
| Amazon | Consumer |
Together, the top 20 holdings account for roughly 38.4% of the portfolio, reflecting meaningful diversification.
Geographic Allocation
One notable characteristic is that the portfolio is less US-centric than many global equity benchmarks.
Approximate allocation:
| Region | Allocation |
|---|---|
| North America | 56.9% |
| Europe | 24.4% |
| Emerging Markets | 10.4% |
| Japan | 4.3% |
| Pacific ex Japan | 1.8% |
This provides exposure to multinational companies across Europe and Asia rather than relying solely on US technology stocks.
Sector Allocation
The fund is diversified across sectors:
| Sector | Weight |
|---|---|
| Information Technology | 29.6% |
| Industrials | 13.9% |
| Consumer Discretionary | 11.8% |
| Financials | 10.5% |
| Healthcare | 10.4% |
| Communication Services | 10.1% |
Unlike many AI-focused portfolios, healthcare and industrial businesses represent meaningful portions of the strategy.
Historical Performance
The strategy has one of the longest active management track records globally.
Key statistics include:
- Strategy inception: 1973
- Lifetime annualised return (net): 11.4%
- Benchmark annualised return: 9.1%
- Approximately 2.3% annual excess return after fees over its benchmark since inception.
While past performance never guarantees future returns, maintaining excess returns over multiple decades is notable.
Multi-Manager Investment Process
Instead of one portfolio manager making all investment decisions, Capital Group uses multiple managers and research analysts.
Advantages include:
- Lower key-person risk
- Better diversification of investment ideas
- Independent research
- Reduced behavioural biases
- More consistent investment process across market cycles
This investment approach has been central to Capital Group for decades.
Minimum Investment
At the time of writing, the 360 ONE GIFT City vehicle is positioned for sophisticated investors under the AIF framework. The exact minimum commitment, drawdown schedule, and investor eligibility can vary by share class and offering documents. Prospective investors should confirm these details with 360 ONE before investing, as they are not specified in the marketing presentation provided.
Fees
The underlying Capital Group New Perspective Fund (Luxembourg B share class) has:
- Management Fee: 1.50% per annum
- Total Expense Ratio (TER): 1.59%
Investors should also review the 360 ONE feeder fund documents for any additional feeder-level management, administration, distribution, or performance fees that may apply.
ESG Integration
The strategy incorporates ESG considerations through:
- UN Global Compact screening
- Controversial weapons exclusion
- Tobacco screening
- Fossil fuel exclusions
- Carbon footprint approximately 43% lower than MSCI ACWI at the time of the factsheet
Risks Investors Should Understand
Although globally diversified, this remains an equity fund.
Key risks include:
- Equity market volatility
- Currency fluctuations
- Emerging market exposure
- Liquidity risk
- Technology sector concentration
- Global recession risk
- Regulatory changes
Investors should view this as a long-term (5–10+ year) allocation rather than a tactical investment.
Who Should Invest?
The fund may suit:
- NRIs seeking USD-denominated wealth creation
- Investors wanting global diversification beyond India
- Families building intergenerational portfolios
- Investors comfortable with equity volatility
- Long-term investors seeking active global management
It may be less suitable for investors with short investment horizons or those seeking capital protection.
Pros and Cons
| Pros | Cons |
|---|---|
| Access to Capital Group’s flagship strategy | Equity market volatility |
| 50+ year investment history | Active management fees are higher than passive ETFs |
| Diversified across ~259 companies | Returns can underperform benchmarks in certain periods |
| Global sector diversification | Currency movements affect USD-based returns for investors whose liabilities are in other currencies |
| Multi-manager approach reduces key-person risk | AIF structures may have higher minimum investments than mutual funds |
Frequently Asked Questions (FAQs)
The 360 ONE GIFT City Fund is a Category III Alternative Investment Fund (AIF) based in GIFT City that provides investors access to Capital Group’s globally renowned New Perspective investment strategy. It offers diversified exposure to international equities through a professionally managed portfolio.
The fund is primarily designed for eligible investors, including NRIs, OCIs, foreign nationals, family offices, and high-net-worth individuals (HNIs) who meet the eligibility requirements prescribed under the GIFT City AIF framework.
Unlike passive global ETFs that simply track an index, the 360 ONE GIFT City Fund is actively managed by Capital Group. The investment team selects companies based on long-term growth opportunities, aiming to outperform global equity benchmarks over time.
GIFT City provides NRIs with a regulated platform to access global investment opportunities in USD, along with operational convenience, international diversification, and access to institutional-quality investment strategies without opening overseas brokerage accounts.
Final Verdict
The 360 ONE GIFT City Fund offers NRIs a convenient way to access a globally diversified, actively managed equity strategy backed by one of the world’s most established investment managers. Its emphasis on long-term structural themes—such as artificial intelligence, healthcare innovation, industrial transformation, and evolving consumer behaviour—combined with Capital Group’s multi-manager investment process, makes it a compelling option for investors looking beyond domestic markets.
That said, it is important to distinguish between the underlying Capital Group strategy, which has delivered an annualised return of 11.4% (net of fees) since 1973, and the 360 ONE feeder vehicle, whose costs, minimum investment requirements, liquidity terms, and tax treatment should be reviewed carefully in the official offering documents before investing.
For NRIs building long-term, USD-denominated wealth, this fund can serve as a core global equity allocation, complementing Indian equities rather than replacing them. As with any investment, ensure it aligns with your financial goals, risk tolerance, and tax residency, and consider seeking professional advice where appropriate.
