New Delhi, July 9 -- A new global gateway has opened for Indian retail investors.

based subsidiary of an Indian mutual fund has launched the country's first open-ended retail fund under the International Financial Services Centres Authority (IFSCA) regulations.

While this opens up a new route for Indian resident investors to access global equities, the absence of specific tax provisions for such funds makes it essential to understand how both the fund and its investors will be taxed under Indian law.

The fund, which is neither a mutual fund nor an alternative investment fund (AIF), is structured as a trust and designed for resident Indians. Investors will contribute in US dollars via the Liberalised Remittance Scheme (LRS), remitting f...