SPVH Emerging World Fund
India's Capital, Deployed in the World's Next Growth Stories — Active EM Alpha at Institutional Precision.
A USD-denominated, Category III AIF registered at GIFT City IFSC — designed for Indian HNIs, UHNIs, family offices, and NRIs seeking active, high-conviction exposure to the world's highest-growth emerging economies: China, Korea, ASEAN (Vietnam, Indonesia, Thailand), and select EM FoF — without the fee drag of passive ETF feeders. Accessible via LRS ($250K/yr) for residents and directly for NRIs.
MSCI EM benchmark: +34.4% in 2025
Correcting India's Global Allocation Gap.
India is already 4% of global market capitalisation — but Indian investors have less than 1% of their wealth in global equities. Meanwhile, emerging markets outside India — China's AI revolution, Korea's semiconductor renaissance, Vietnam's manufacturing ascent — delivered 30–50% in 2025. The SPVH Emerging World Fund is the vehicle that corrects this imbalance: bringing India's investment intelligence to the world's highest-growth emerging economies.
Structure at a Glance.
The WORLD Investment Framework.
Five disciplined pillars combining top-down macro country rotation, a cost-efficient FoF + direct hybrid, risk-calibrated country bands, on-ground local intelligence, and dollar-return optimisation — capturing the EM growth premium that passive ETF feeders miss entirely.
Country / Region Allocation.
High-Conviction Sector Themes by Country.
Greater China — AI & Consumer Recovery
China Internet (Tencent, Alibaba), DeepSeek-driven AI hardware demand, semiconductor EDA tools, and domestic consumer-discretionary recovery. Hong Kong-listed H-shares at 60–70% discount to intrinsic value. Taiwan TSMC — an irreplaceable AI chip supply-chain node.
South Korea — Governance Reform + AI Semis
Samsung Electronics at a historic valuation discount. SK Hynix HBM (High Bandwidth Memory) — critical to every AI datacenter globally. Korea's governance reform (Value-Up programme) creating a re-rating opportunity. Korean financials (KB Financial) benefiting from reform-led multiple expansion.
Vietnam — Manufacturing Ascent
China+1 supply-chain relocation. Vietnam is the #1 beneficiary of global manufacturing diversification. Samsung, Apple, and LG already operate major hubs. Local textile, electronics, and logistics plays at an early growth stage. GDP 6%+ growth driven by export manufacturing.
Indonesia — Domestic Consumption Giant
280 million population. Banking penetration <40%. Digital-payment adoption accelerating. GoTo, Bank Central Asia, and Mandiri at early-stage middle-class expansion. Indonesia represents the EM opportunity India was 15 years ago — massive domestic demand, underbanked, urbanising rapidly.
FoF vs Direct Equity.
FoF Layer — 40–50% of Portfolio
Institutional share-class allocations to proven EM managers: Robeco Emerging Stars (Korea/Taiwan overweight), Matthews Asia Emerging Markets (China + SEA), JPMorgan Greater China. Negotiated institutional fees (0.3–0.6% vs retail 1.5%). Managers selected using a 5-factor quantitative screen: IR, Sharpe, downside capture, manager tenure, AUM stability.
Direct Equity Layer — 45–55% of Portfolio
High-conviction direct positions where SPVH has local research capability and strong conviction: Korea semiconductors (Samsung, SK Hynix), China internet (Tencent, Alibaba H-shares), Indonesia banking (BCA, Bank Mandiri), and Vietnam ETFs as proxy. The direct layer reduces total fee drag by 80–120 bps vs pure FoF.
What Sets This Fund Apart.
Four structural advantages that make Emerging World a genuinely active, India-accessible route to the world's highest-growth emerging economies — capturing the EM premium that passive ETF feeders miss entirely.
True Multi-Market EM Basket
An 8-market mandate spanning Greater China, Korea, Taiwan, Vietnam, Indonesia, ASEAN, and select LatAm — with active country rotation driven by the WORLD framework, not a static single-country feeder.
Captures the EM Premium
A pure emerging-market focus targets the structural EM premium — historically +5–8% annualised over developed markets — with a 20–28% USD net return objective and active downside management.
Hybrid FoF + Direct Efficiency
Institutional share-class FoF allocations combined with high-conviction direct equity reduce total fee drag by 80–120 bps versus pure retail FoF structures — without sacrificing local research quality.
India-Accessible by Design
Built within the GIFT City IFSCA framework — making sophisticated global EM exposure LRS-accessible to Indian residents and directly investable for NRIs, in a fully USD-denominated structure.
Terms & Risk Architecture.
Target LP Investor Profile.
Built for Indian and NRI capital seeking sophisticated, actively-managed global EM diversification — the vehicle for a first global allocation beyond an India-saturated portfolio.
Interested in the Emerging World Fund?
Speak with our GIFT City global investments team for the detailed PPM, fund terms, and LRS onboarding process.
Regulatory Disclaimer: The SPVH Emerging World Fund is a proposed Category III AIF structure and requires IFSCA registration and applicable legal/compliance approvals prior to launch. All return targets are forward-looking estimates and do not constitute guarantees. Indian residents may invest in outbound GIFT City AIFs only within RBI LRS limits of $250,000 per financial year. Investing in AIFs involves significant market risk, including potential loss of principal. Past performance of comparable funds does not guarantee future results. This page does not constitute an offer or solicitation for investment.