London Stock Exchange ETF segment · UCITS ETF
Invest in GCLX ETF from India
Indian and foreign residents can buy Invesco Global Clean Energy UCITS ETF AccumUSD (GCLX) units directly through Paasa.
By Paasa · Updated
GCLX at a glance
- Price
- £17.41-£0.15 (0.84%)
- Expense ratio
- 0.6%
- Day range
- £17.33 – £17.53
- Assets
- £81.6M
- Domicile
- Ireland
- Holdings
- —
- Launched
- 2021
- Dividends
- —
- 1 month
- -2.33%
- 6 months
- -6.57%
- YTD
- +5.13%
- 1 year
- +12.18%
- 5 years
- -33.07%
Price change, excluding dividends.
Top 10 holdings
- 1Lotte Energy Materials Corp KRW5001.3%
- 2DOOSAN FUEL CELL CO LTD KRW1001.3%
- 3BLOOM ENERGY CORP- A USD0.00011.2%
- 4TAMURA CORP NPV1.1%
- 5CS WIND CORP KRW5001.1%
- 6VERBUND AG NPV1.1%
- 7J&V ENERGY TECH TWD 10.0000000001.1%
- 8NIBE INDUSTRIER AB SEK NPV1.1%
- 9SINO-AMERICAN SILICON PRODUC TWD101.1%
- 10TOYO TANSO CO LTD NPV1.0%
These 10 are 11.5% of the fund.
Where the money is invested
Sectors
- Industrials46.1%
- Utilities17.7%
- Consumer Cyclical11.0%
- Energy10.0%
- Technology7.3%
- Basic Materials6.1%
Countries
- United States21.5%
- China13.1%
- Taiwan11.6%
- South Korea10.2%
- Japan5.6%
- Spain4.7%
How to invest in GCLX 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, and Interactive Brokers converts the dollars to GBP when you buy.
Step 3
Search GCLX and buy
Find the fund by its ticker, GCLX, on the London Stock Exchange ETF segment, and place your order.
Why invest in GCLX from India
What GCLX holds
The Fund is a passively-managed Exchange-Traded Fund (ETF), which aims to achieve the net total return performance of the WilderHill New Energy Global Innovation Index (the Index) 1, less fees, expenses and transaction costs.
Outside US estate tax
GCLX is domiciled in Ireland, not the US, so it is not a US-situs asset and US estate tax does not apply to it.
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 GCLX's UCITS structure matters for Indian investors
GCLX 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 GCLX from India?
Yes. Indian residents can buy Invesco Global Clean Energy UCITS ETF AccumUSD (GCLX) through Paasa. It is listed on the London Stock Exchange ETF segment and trades in GBP. 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 GCLX invest in?
Its largest holdings are Lotte Energy Materials Corp KRW500 (1.3%), DOOSAN FUEL CELL CO LTD KRW100 (1.3%) and BLOOM ENERGY CORP- A USD0.0001 (1.2%). Industrials is its largest sector at 46.1%. The fund is domiciled in Ireland.
What is the expense ratio of GCLX?
Invesco Global Clean Energy UCITS ETF AccumUSD has an expense ratio of 0.6% a year, taken from the fund's assets rather than billed to you. The fund manages about £81.6M.
Is GCLX a UCITS ETF, and why does that matter for Indian investors?
Yes. Invesco Global Clean Energy UCITS ETF AccumUSD 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 GCLX?
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 GBP/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.