GIFT City’s DSP Global Equity Fund Has Amazon as Top Holding; 19 Stocks Make Up Over 50% of the Portfolio

The DSP Global Equity Fund, operating out of GIFT City, has highlighted Amazon as its top portfolio holding, reflecting a sharp focus on international equities. The fund, managed by DSP Fund Managers IFSC, has recorded a growth in assets under management (AUM) to over $5 million, with investments in 19 select companies forming 52% of the portfolio. 

Amazon Leads, Followed by Tencent and Adyen 

The latest fund report lists Amazon as the largest holding with a 6.4% allocation. Other key holdings in the top 10 include Tencent Holdings, Adyen, Booking Holdings, Trip.com, Brookfield Corp, PDD Holdings and automaker BYD. Combined, the top 10 holdings account for 38.4% of the fund’s total portfolio. The remaining 47% is currently held in cash, indicating a strategic reserve amid volatile global markets. 

Fund Strategy and Future Plans 

The fund follows an open-ended structure and is currently the only retail-oriented actively managed outbound equity fund based in GIFT City. The managers stated that they do not engage in speculative cash moves and instead prefer to stay cautious if opportunities are limited. The portfolio is expected to eventually expand to include 30–40 global stocks, pulling from sectors such as consumer brands, fintech and industrial businesses, particularly in North America and Europe. 

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Geographic and Sectoral Distribution 

The largest regional exposure lies in North America, accounting for 21% of the portfolio, followed by Europe. The fund has deliberately avoided regions like Japan and South Korea due to elevated valuations. Sector-wise, technology holds the highest allocation at 13.5%, underscoring its role in the fund’s growth-oriented outlook. 

Trip.com stands out due to its dominance in China's online travel space, with a 62.5% market share and 236 million yearly transactions. 

Conclusion 

The DSP Global Equity Fund from GIFT City reflects a structured and cautious approach to international investing. With a strong bet on consumer technology and global travel, the fund plans to carefully scale its holdings over time while maintaining flexibility through substantial cash allocation. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.