London Stock Exchange ETF segment · UCITS ETF
Invest in ENCO ETF from India
Indian and foreign residents can buy L&G Multi-Strategy Enhanced Commodities UCITS ETF (ENCO) units directly through Paasa.
By Paasa · Updated
ENCO at a glance
- Price
- $19.86+$0.19 (0.96%)
- Expense ratio
- 0.3%
- Day range
- $19.70 – $19.86
- Assets
- $2.3B
- Domicile
- Ireland
- Holdings
- —
- Launched
- 2021
- Dividends
- —
- 1 month
- +2.89%
- 6 months
- +8.28%
- YTD
- +31.34%
- 1 year
- +33.54%
- 5 years
- +80.20%
Price change, excluding dividends.
Top 10 holdings
- 1Intercontinental Exchange Europe Brent Crude Electronic Energy Future11.5%
- 2NYMEX New York Mercantile Exchange Light Sweet Crude Oil (WTI) Electronic Energy Future9.6%
- 3LME London Metal Exchange Aluminium USD Monthly Pit Commodity Future7.9%
- 4Commodities Exchange Centre (CEC) Gold Electronic Commodity Future7.9%
- 5CME Chicago Mercantile Exchange Live Cattle Electronic Commodity Future6.9%
- 6Intercontinental Exchange Europe Low Sulphur Gasoil Energy Future5.8%
- 7LME London Metal Exchange Zinc Monthly Pit Commodity Future5.3%
- 8NYMEX New York Mercantile Exchange NY Harbor ULSD Electronic Energy Future4.3%
- 9Intercontinental Exchange US Coffee C Futures Electronic Commodity Future4.3%
- 10NYMEX New York Mercantile Exchange Henry Hub Natural Gas Electronic Energy Future4.1%
These 10 are 67.4% of the fund.
Where the money is invested
Countries
- Other67.9%
- United Kingdom32.1%
Similar funds
| Fund | Expense ratio | Assets |
|---|---|---|
| ENCDLSEL&G Multi Strategy Enhanced Commodities USD Distributing UCITS ETF | 0.3% | 2.3B |
Assets are shown in each fund's own reporting currency.
How to invest in ENCO from India
Step 1
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Step 2
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Step 3
Search ENCO and buy
Find the fund by its ticker, ENCO, on the London Stock Exchange ETF segment, and place your order.
Why invest in ENCO from India
What ENCO holds
The investment objective of the L&G Multi-Strategy Enhanced Commodities UCITS ETF (the Fund) is to provide an exposure to futures contracts on physical commodities.
Outside US estate tax
ENCO is domiciled in Ireland, not the US, so it is not a US-situs asset and US estate tax does not apply to it.
Hold a dollar asset
ENCO is priced in US dollars, so a weaker rupee adds to what it's worth in rupees. The rupee depreciated over 85% against the dollar between 2010 and 2025.
Paasa handles the paperwork
Investing abroad brings paperwork with it: remittance filings, capital gains reporting, foreign asset disclosure. Paasa prepares all of it for you. Your India-ready tax reports arrive at year end, ready to file.
Why ENCO's UCITS structure matters for Indian investors
ENCO is domiciled in Ireland, not the US, so it is not a US-situs asset and US estate tax does not apply to it.
On the US shares the fund holds, the 15% US dividend withholding is paid inside the fund, and you cannot claim it as a Foreign Tax Credit in India.
Capital gains are taxed in India the same way as on a US-listed ETF.
Frequently asked questions
Can I buy ENCO from India?
Yes. Indian residents can buy L&G Multi-Strategy Enhanced Commodities UCITS ETF (ENCO) through Paasa. It is listed on the London Stock Exchange ETF segment and trades in US dollars. Your money leaves India under the RBI's Liberalised Remittance Scheme, and the units are held in your own name at Interactive Brokers.
What does ENCO invest in?
Its largest holdings are Intercontinental Exchange Europe Brent Crude Electronic Energy Future (11.5%), NYMEX New York Mercantile Exchange Light Sweet Crude Oil (WTI) Electronic Energy Future (9.6%) and LME London Metal Exchange Aluminium USD Monthly Pit Commodity Future (7.9%). The fund is domiciled in Ireland.
What is the expense ratio of ENCO?
L&G Multi-Strategy Enhanced Commodities UCITS ETF has an expense ratio of 0.3% a year, taken from the fund's assets rather than billed to you. The fund manages about $2.3B.
Is ENCO a UCITS ETF, and why does that matter for Indian investors?
Yes. L&G Multi-Strategy Enhanced Commodities UCITS ETF is a UCITS fund domiciled in Ireland. Because it is domiciled outside the US, it is not a US-situs asset, so US estate tax does not apply to it. On the US shares the fund holds, the 15% US dividend withholding is paid inside the fund, and you cannot claim it as a Foreign Tax Credit in India.
What tax do I pay in India when I sell ENCO?
In India, gains on foreign ETF units held for more than 24 months are long-term and taxed at 12.5% without indexation, and gains on units held for 24 months or less are short-term and taxed at your income-tax slab rate. Both are worked out in rupees at the USD/INR rate on the day you bought and the day you sold, so the currency move is part of the gain. Paasa's capital-gains statement gives you the figures for your return.