Axis Max Life Global Innovation Leaders Fund: A GIFT City ULIP Fund that Provides Exposure to Global Tech Stocks

Economic expansion around the world has been fueled and shaped by innovation. Currently, industries around the world are undergoing a revolution due to emerging technologies like artificial intelligence (AI), cloud computing, semiconductors, cybersecurity, digital infrastructure and more. The Axis Max Life Global Innovation Leaders Fund is a ULIP fund in USD currency, allowing investors to invest in globally recognised companies that are the forefront of these innovative technologies.

Available via the Axis Max Life Smart Global Investment Fostering Tomorrow (GIFT) Plan, the fund aims to provide long-term capital appreciation through a geographically diversified portfolio of tech stocks.

What is the Axis Max Life Global Innovation Leaders Fund?

The Axis Max Life Global Innovation Leaders Fund is a US Dollar-denominated equity-oriented ULIP fund that aims to achieve long-term capital appreciation through investments in globally listed firms that bring innovation, technological advancements, and disruptive growth. This fund will be available to NRIs via the GIFT City mechanism under the Axis Max Life Smart Global Investment Fostering Tomorrow (GIFT) Plan.

The fund will mainly invest in ETFs such as the iShares Global Tech ETF. This will give eligible NRI investors the ability to invest in companies that are building the future economy in different industries ranging from artificial intelligence, cloud computing, semiconductors, software, digital infrastructure and tech hardware.

The Axis Max Life Global Innovation Leaders Fund is likely to hold between 80%-100% of the total assets under management in equity and equity-related ETFs and 0%-20% in cash and money market instruments. The risk level of the fund is very high, hence making it suitable for investors with high-risk tolerance and a long investment horizon.

Since it is a newly launched fund, there is no historical performance data for the fund. But because the fund starts off by being entirely invested in the iShares Global Tech ETF, the performance history of the ETF can serve as an indicator of the potential returns of the fund. Below chart illustrates the performance of the iShares Global Tech ETF versus the broad-based S&P Global 500 Index over various time periods:

Note: Returns shown above are as of 30 June 2026. 3 Year, 5 Year, 10 Year and Returns since inception data shown above are annualised returns. Past returns do not guarantee future performance.

Although historical performance is not an indicator of future results, the ETF’s performance as shown above highlights the potential capital appreciation benefits of investing in tech stocks. Similarly those investing in the Axis Max Global Innovation Leaders Fund will be able to gain exposure to stocks related to artificial intelligence, digital transformation, cloud computing, and other fields of tech innovation that continue to drive the global economy.

How Will the Axis Max Life Global Innovation Leaders Fund Select Investments?

The Axis Max Life Global Innovation Leaders Fund will primarily invest in global tech-focused ETFs such as the iShares Global Tech ETF. This will give investors exposure to companies at the forefront of tech and innovation from across the world.

As of 30 June 2026, the iShares Global Tech ETF comprises a diversified portfolio of 128 globally listed companies across different tech segments, including software, semiconductors, tech hardware, cloud computing, artificial intelligence and digital infrastructure.

Some of the leading stocks that are expected to feature in the portfolio of Axis Max Life Global Innovation Leaders Fund are NVIDIA, Apple, Microsoft, Broadcom, Taiwan Semiconductor Manufacturing Company, Samsung Electronics, ASML, AMD, etc. These stocks represent top tech companies from across the world including the US, Europe, Japan, Taiwan and South Korea.

Why Should You Consider Geographical Diversification?

One common way to mitigate concentration risk is to diversify investments across multiple asset classes and market capitalisations. Another way to diversify investments is through investments made across multiple geographies instead of investing only in stocks from the same country/region. Key reasons to consider global diversification include:

Reduced Currency Risk

On 5^th June 2025, 1 US$ was worth ₹85.82 and by 5^th July 2026, 1 US$ had increased to ₹95.59. As the Indian rupee weakens against the US dollar, individuals exclusively investing in Indian companies will witness a decrease in their real returns . This currency risk is especially true for NRI investors who plan to redeem their Indian investments in a foreign currency. By diversifying your investments across geographies, you can mitigate this currency risk to a significant degree. Dollar denominated investments in the Axis Max Life Global Innovation Leaders Fund, which invests across multiple geographies can help reduce the potential currency risk for NRI investors.

Better Short-Term Volatility Management

It is normal for equity investments to be volatile especially in the short-term. However, there are situations where the impact of volatility is more pronounced in a relatively localised region as compared to other parts of the world.

Have a look at the returns of the iShares Global Tech ETF and the S&P 100 Index over the short-term as of 30 June 2026:

Note: Returns date of TRI variant of indices/ETF as of 30 June 2026. 1 month, 1 year and YTD returns shown above are absolute returns.

As you can see, the broad-based S&P 100 Index has under-performed versus the iShares Global Tech ETF in the past few months. So an investor opting for the global exposure of the iShares Global Tech ETF would have seen significantly less overall volatility in returns during this period compared to someone only investing in US stocks that are included in the S&P 100 Index.

Provides Exposure to Iconic Businesses and Unique Themes

If you are only investing in Indian stocks and domestic funds, your access to emerging themes and innovative such as Artificial Intelligence, semiconductor technology, IT hardware, etc. will be limited. Moreover, domestic fund also cannot provide meaningful exposure to stocks of iconic brands such as NVDIA, Apple, Microsoft,

Amazon, etc. The Axis Max Life Global Innovation Leaders Fund allows you to invest in these and other globally-recognised companies based in the US as well as in other countries such as Taiwan, Japan, the Netherlands,etc. This is available in a transparent, simple and structured way through a single ULIP offering – the Axis Max Life Smart Global Investment Fostering Tomorrow Plan.

Which Countries will the Axis Max Life Global Innovation Leaders Fund Invest in?

The Axis Max Life Global Innovation Leaders Fund is a globally diversified equity-oriented fund which is expected to primarily invest in ETFs such as the iShares Global Tech ETF. In contrast to technology funds that are only focused on one market, the ETF gives exposure to globally listed technology firms in different developed markets. Investors get the opportunity to invest in worldwide innovation without being dependent on a particular country.

The geographical distribution of investments made by the iShares Global Tech ETF as of 30 June 2026 is shown in the table below:

As we can see from the above geographical allocation, the ETF is exposed to some of the leading technology markets in the world beyond just the US. As the Axis Max Life Global Innovation Leaders Fund is expected to follow a similar investment strategy, investors would be able to get diversified exposure to globally-recognised technology companies based in North America, Europe and Asia.

Key Investments of the Axis Max Life Global Innovation Leaders Fund

Axis Max Life Global Innovation Leaders Fund is the newly introduced fund within the Smart Global Investment Fostering Tomorrow (GIFT) Plan. Since the fund will primarily invest in ETF such as the iShares Global Tech ETF, the holdings of the ETF can help provide insight into the  portfolio of the new fund.

The iShares Global Tech ETF featured 128 globally listed companies (as on 22 July 2026) across various sectors like software, semiconductors, technology hardware and digital infrastructure. As of 30 June 2026, the holdings of the ETF along with the respective portfolio weight are shown below:

As you can see, the stock represent some of the biggest technology companies in the world. But by keeping the exposure to any specific stock limited, the potential concentration risk for investors will be limited.

The below table shows the key sectors the iShares Global Tech ETF was invested in as of 30 June 2026:

As you can see, since tech stocks are the primary focus of this fund, semiconductors, hardware and software-related stocks will be a key part of the fund’s portfolio. However, these investments will be managed so as to remain with IRDAI-prescribed limits.

The ETF also has diversification among various technology segments. As of 31st March 2026, Semiconductors & Semiconductor Equipment constituted 45.31%, Technology Hardware & Equipment (28.64%), and Software & Services (25.82%).

The above portfolio details indicate that the Axis Max Life Global Innovation Leaders Fund is expected to offer diversified exposure to global technology companies across multiple industries and regions while also getting benefits from innovative growth trends.

Who Should Invest in the Axis Max Life Global Innovation Leaders Fund?

The Axis Max Life Global Innovation Leaders Fund is an equity-oriented, USD-denominated fund with a technology stock focus in the international markets. As per mandate, between 80% and 100% of the fund’s investments will be in equity and equity-oriented ETFs, which is a key reason the fund has a risk rating of “Very High”. This fund may suit the investment needs of the following types of investors:

• Investors with high risk appetite who are focused on long-term capital appreciation through investments in global tech stocks.
• Individuals who want to make US Dollar-denominated investments and get the benefit of reduced local currency depreciation risk
• Investors planning to make long term investments in structural growth themes like artificial intelligence, cloud computing, semiconductors, digital infrastructure, and technology innovation.
• Those who want to diversify their portfolios geographically with globally listed companies across various countries rather than a single market.

The above category of investors may find value in the Axis Max Life Global Innovation Leaders Fund. However, it must be noted that all equity investments come with a certain level of risk, and thus, one needs to evaluate their financial goals, investment period, and risk appetite before investing.

How to Invest in the Axis Max Life Global Innovation Leaders Fund?

The Axis Max Life Global Innovation Leaders Fund would be available through the Axis Max Life Smart Global Investment Fostering Tomorrow (GIFT) Plan, which is a USD-denominated ULIP product from Axis Max Life Insurance offered under the GIFT City framework. The new fund offer period will be from 28 July to 20 August 2026.

Snapshot of the Axis Max Life Global Innovation Leaders Fund

Given below is a quick snapshot of the Axis Max Life Global Innovation Leaders Fund for better understanding:

Other GIFT City ULIP Funds from Axis Max Life Insurance

Currently GIFT City ULIP fund offerings from Axis Max Life Insurance include the following:

Axis Max Life US Equity Fund

This is an ideal choice for investors seeking to access US Equity markets via the GIFT City framework. This US Dollar-denominated ULIP allows eligible NRI investors to invest in top US-based companies that are part of the S&P 100, such as, NVDIA, Microsoft, Alphabet, etc. The goal is to provide long-term growth to the investor through a portfolio that features minimum 80% US equity investments.

Axis Max Life World Equity Fund

This US Dollar-denominated ULIP fund from Axis Max Life allows investors to invest in over 2500 stocks from both developed and developing countries worldwide. The goal of this fund is to provide long-term capital appreciation to the investor through exposure to top equity stocks from across the world. Top stocks features in the fund portfolio include NVDIA, Apple. Microsoft, Amazon, etc. and the fund will maintain a minimum equity exposure of 80% at all times.

Sources:

https://www.ishares.com/us/products/239750/ishares-global-tech-etf

https://www.ishares.com/us/literature/fact-sheet/ixn-ishares-global-tech-etf-fund-fact-sheet-en-us.pdf

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