London Stock Exchange ETF segment · UCITS ETF
Invest in IRSA ETF from India
Indian and foreign residents can buy iShares MSCI South Africa UCITS ETF (IRSA) units directly through Paasa.
By Paasa · Updated
IRSA at a glance
- Price
- $57.74+$0.07 (0.12%)
- Expense ratio
- 0.65%
- Day range
- $57.09 – $58.74
- Assets
- $222.0M
- Domicile
- Ireland
- Holdings
- 27
- Launched
- 2010
- Dividends
- —
- 1 month
- -10.21%
- 6 months
- +2.29%
- YTD
- -5.18%
- 1 year
- +9.47%
- 5 years
- +73.35%
Price change, excluding dividends.
Top 10 holdings
- 1ANGLOGOLD ASHANTI PLC12.9%
- 2NASPERS LIMITED CLASS N9.0%
- 3GOLD FIELDS8.7%
- 4FIRSTRAND LTD7.8%
- 5STANDARD BANK GROUP6.7%
- 6CAPITEC SHS6.5%
- 7MTN GROUP5.7%
- 8VALTERRA PLATINUM LTD5.6%
- 9ABSA GROUP3.1%
- 10IMPALA PLATINUM2.9%
IRSA holds 27 securities in total. These 10 are 68.9% of the fund.
Where the money is invested
Sectors
- Basic Materials42.5%
- Financial Services33.0%
- Consumer Cyclical12.5%
- Communication Services6.5%
- Consumer Defensive2.3%
- Real Estate1.4%
Countries
- South Africa83.8%
- United States13.3%
- Netherlands1.4%
- Luxembourg1.0%
- Other0.4%
- Ireland0.1%
Similar funds
| Fund | Expense ratio | Assets |
|---|---|---|
| EZAAMEXiShares MSCI South Africa ETF | 0.59% | 484.0M |
Assets are shown in each fund's own reporting currency.
How to invest in IRSA 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 IRSA and buy
Find the fund by its ticker, IRSA, on the London Stock Exchange ETF segment, and place your order.
Why invest in IRSA from India
What IRSA holds
The Share Class is a share class of a Fund which aims to achieve a return on your investment, through a combination of capital growth and income on the Funds assets, which reflects the return of the MSCI South Africa Index, the Funds benchmark index.
Outside US estate tax
IRSA 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
IRSA 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 IRSA's UCITS structure matters for Indian investors
IRSA 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 IRSA from India?
Yes. Indian residents can buy iShares MSCI South Africa UCITS ETF (IRSA) 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 IRSA invest in?
iShares MSCI South Africa UCITS ETF holds 27 securities. Its largest holdings are ANGLOGOLD ASHANTI PLC (12.9%), NASPERS LIMITED CLASS N (9.0%) and GOLD FIELDS (8.7%). Basic Materials is its largest sector at 42.5%. The fund is domiciled in Ireland.
What is the expense ratio of IRSA?
iShares MSCI South Africa UCITS ETF has an expense ratio of 0.65% a year, taken from the fund's assets rather than billed to you. The fund manages about $222.0M.
Is IRSA a UCITS ETF, and why does that matter for Indian investors?
Yes. iShares MSCI South Africa 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 IRSA?
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.