Domiciled in Melbourne, we provide Australian wholesale investors with structured access to India's high-conviction mutual funds—designed for long-term, tax-efficient capital growth.

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igf

igf

India Growth Funds is an investment service firm with a core focus towards opening doors for overseas investors to Indian capital markets.

INDIA GROWTH MID-CAP OPPORTUNITIES FUND - 1H

IGF-DSP EQUITY OPPORTUNITIES FUND-2D

IGF Flexi Cap Fund - 3A

Fund Summary

HDFC Asset Management Company Limited (HDFC AMC) is one of India's preferred mutual fund managers. Part of the renowned HDFC Group, it is one of India’s largest mutual fund houses. Backed by a legacy of trust and financial strength, it offers a wide range of equity, debt, and hybrid schemes, with a strong track record of performance and investor confidence.

India Growth Mid-Cap Opportunities Fund - 1H

Master Fund : HDFC Mid Cap Fund

Rated 4

"Morningstar rating applies to the Master Fund only"

Performance

Fund Size

Benefits We Provide You

Regulated Structure

Australian regulated funds with an AFSL Licensee, providing tailored investment solutions in AUD.

India Growth Access

Provides access to emerging growth opportunities in India through trusted Australian frameworks.

Accessible Investment Thresholds

Pooling the investor capital lowers entry barriers for diversified strategies like multi-index, flexi-cap allocations across fund houses and is ideal for SIPs and broad market exposure.

Highly Rated Mutual Funds

Investments in highly rated AMCs with 25+ years of legacy.

Ease Of Investment

IG Funds streamlines the complex and time-consuming KYC onboarding process, enabling seamless investing. Local KYC suffices without India-specific requirements like Aadhaar, PAN, OTP, NRE accounts, or Form 15CA/CB.

Global Investment Diversification

International diversification extending beyond USA and EU markets, with opportunities in emerging market capital investments.

Risk Diversification

A diversified allocation across multiple indices and flexi-cap funds encompassing large, mid, and small-cap companies, distributed among various fund houses.

Tech-Driven Platform

Fully digital, paperless onboarding complemented by daily investment monitoring through an user-friendly portal and mobile application.

Regulated Structure

Australian regulated funds with an AFSL Licensee, providing tailored investment solutions in AUD.

India Growth Access

Provides access to emerging growth opportunities in India through trusted Australian frameworks.

Accessible Investment Thresholds

Pooling the investor capital lowers entry barriers for diversified strategies like multi-index, flexi-cap allocations across fund houses and is ideal for SIPs and broad market exposure.

Highly Rated Mutual Funds

Investments in highly rated AMCs with 25+ years of legacy.

Ease Of Investment

IG Funds streamlines the complex and time-consuming KYC onboarding process, enabling seamless investing. Local KYC suffices without India-specific requirements like Aadhaar, PAN, OTP, NRE accounts, or Form 15CA/CB.

Global Investment Diversification

International diversification extending beyond USA and EU markets, with opportunities in emerging market capital investments.

Risk Diversification

A diversified allocation across multiple indices and flexi-cap funds encompassing large, mid, and small-cap companies, distributed among various fund houses.

Tech-Driven Platform

Fully digital, paperless onboarding complemented by daily investment monitoring through an user-friendly portal and mobile application.

There is no doubt that India's growth rate is among the shiniest parts in the world economy. I think being able to grow at six, seven per cent and more in this kind of environment shows you that they've done a number of things to get there.

World Bank President

October 2024

India is poised to become the world's third largest economy by 2027, surpassing Japan and Germany. For investors, this means signs of a potential opportunity.

Chief Investment and Portfolio Strategist, Blackrock

May 2024

We are investing on all fronts in India. We're adding bankers, we're putting more capital into the business and we're building capabilities such as technology investments to service new segments of the market.

JPMorgan's Asia Pacific CEO

September 2024

The Indian market has incredible potential and is also not very saturated at this point in time. There is a massive scope for foreign financial institutions to help Indian companies and start-ups raise capital from global investors.

CIO and President Economist, Vanguard Hedge Fund

May 2023

India's Relentless Ascent

India's Growth - A Macro Story

India's Position in GDP Ranking and the Path to become World's Top Three Economies

2013

1
US
2
China
3
Japan
4
Germany
5
France
6
UK
7
Brazil
8
Russia
9
Italy
10
India

2023

1
US
2
China
3
Japan
4
Germany
5
India
6
UK
7
France
8
Italy
9
Brazil
10
Canada

2025

1
US
2
China
3
Germany
4
India
5
Japan
6
UK
7
France
8
Brazil
9
Canada
10
Italy

2027E

1
US
2
China
3
India
4
Germany
5
Japan
6
UK
7
France
8
Brazil
9
Canada
10
Italy

2013

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2023

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2025

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2027E

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Source: IMF, The Data is as on June 6, 2025.

Key highlights on India Performance

76+

Standout in global IPO activity in FY24¹

$206.7 Bn

Foreign institutional investment in FY24²

AUD

1340 Bn+

Mutual Funds in AUM Data as on 31st July, 2025³

28.6 %

Index Returns NIFTY 50 Index in FY24⁴

AUD

5.93 Tn

GDP for 2024⁵

AUD

996.17 Bn

Forex reserves in India (as of Sept 2024)⁶

~ 750 Mn

World's largest youthpopulation⁷

3rd

Ranking amongst world's startup ecosystems⁸

Sources: 1 - KPMG IPO in India Report 2 - IBEF Report 3 - AMFI 4 - Economic times 5 - World Bank Group 6 - Times of India 7 - Economic Times 8 - Department of Science and Technology

Market Insights & Comparisons

MSCI India vs ASX: Compounded Growth Comparison

Initial Investment

Years: 20

ASX CAGR %

India CAGR %

Compounding: Annual

Currency: AUD

Updated: 2025-09-16

Final Value - ASX

A$32,071.355

Final Value - MSCI India

A$273,930.346

Outperformance (Absolute)

A$241,858.991

Client Experiences

Investing with IG Funds has been a seamless and rewarding experience, marked by transparency, expert guidance, and consistent performance. Their clear communication, responsive support, and genuine commitment to investor success gave me the confidence to trust them with my financial journey. What stood out most was their dedication to building meaningful relationships and empowering me to make informed decisions every step of the way.

Wisdom Superfund

We have had a wonderful experience investing with IG Funds, it gives an opportunity for people like us to invest in India in a particular mutual fund as opposed to investing in a managed fund in Australia. The fact that you can invest through your family trusts and superannuation funds directly into Indian mutual funds is unique and particularly not going through the rigmarole process of KYC etc in India, makes it very attractive for Australian residents.

Frequently Asked Questions

What is the primary objective of India Growth Funds?

The IG Funds is designed to offer Australian wholesale investors indirect access to Indian mutual funds, facilitating capital appreciation through growth-oriented investments in Indian markets, specifically via a tax-efficient structure set up by IFSCA in GIFT City, Ahmedabad, Gujarat, India.

Who are the key stakeholders and management entities in this Fund?

Trustee: Non Correlated Capital Pty Ltd, overseeing fund compliance and custodial duties.

Investment Manager: Non Correlated Managers Pty Ltd, responsible for investment strategy and asset management.

Promoter: India Growth Funds Aust Pty Ltd, providing market access and strategic investment support, with a strong focus on facilitating Indian market participation for Australian investors.

Which funds are available for investment under the IG Funds structure?

Our Current Fund Offering

- India Growth Mid-Cap Opportunities Fund - 1H

- HDFC India Mid Cap Opportunities Fund

Our Upcoming Funds

- India Growth Flexi Cap Fund – 3A

- ABSL India Flexi Cap Fund (IFSC) - India Growth Equity Opportunities Fund – 2D

- DSP India Equities Opportunities Fund.

What is the minimum investment commitment?

Initial Investment: AUD 25,000 Follow-on Investments: Minimum of AUD 10,000 per transaction.

Explore all FAQs

India Growth Fund Aust. Pty Ltd ACN 679 187 994 (IGF) as a corporate authorised representative (CAR: 1313345) of Non Correlated Advisors Pty Ltd ACN 158 314 982 AFSL 430126 (NCA). IGF is authorised to advise and deal in wholesale investors only as that term is defined in the Corporations Act 2001. IGF is only authorised to provide you with general information. Under no circumstances does IGF take into account the investment objectives, financial situation or particular needs of any particular person. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information. You are advised to obtain your own investment, financial, tax and legal advice before taking any action. Neither IGF, NCA nor any of their related parties, their employees or directors, officers, provide any warranty of accuracy or reliability in relation to such information or accept any liability to any person who relies on it. You should obtain professional advice and read the Fund’s information memorandum (IM) before making a decision in relation to this product. Any forecasts and hypothetical examples are subject to uncertainty and are not guaranteed and should not be relied upon. Past performance is not a reliable indicator of future performance. The information contained in the presentation are confidential and may not be reproduced in whole or in part. If the content of this publication (and/or presentation) conflict with any terms of the IM, then the terms of the IM govern.

Any investment involves risk in whole or in part of capital loss, and the risk of loss of future and previous earnings.