London Stock Exchange ETF segment · UCITS ETF
Invest in MAGI ETF from India
Indian and foreign residents can buy SSgA SPDR ETFs Europe II PLC - State Street SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Ptg (MAGI) units directly through Paasa.
By Paasa · Updated
MAGI at a glance
- Price
- $35.95-$0.25 (0.68%)
- Expense ratio
- 0.4%
- Day range
- $35.83 – $36.20
- Assets
- $814.6M
- Domicile
- Ireland
- Holdings
- 2,075
- Launched
- 2015
- Dividends
- Distributing
- 1 month
- -5.66%
- 6 months
- -4.93%
- YTD
- -3.24%
- 1 year
- -1.44%
- 5 years
- -2.30%
Price change, excluding dividends.
Top 10 holdings
- 1UNION PACIFIC CORP COMMON STOCK USD2.51.6%
- 2NEXTERA ENERGY INC COMMON STOCK USD.011.6%
- 3IBERDROLA SA COMMON STOCK EUR.751.4%
- 4ENBRIDGE INC COMMON STOCK1.0%
- 5QUANTA SERVICES INC COMMON STOCK USD.000011.0%
- 6SOUTHERN CO/THE COMMON STOCK USD5.01.0%
- 7DUKE ENERGY CORP COMMON STOCK USD.0010.9%
- 8CSX CORP COMMON STOCK USD1.00.9%
- 9WILLIAMS COS INC COMMON STOCK USD1.00.8%
- 10NATIONAL GRID PLC COMMON STOCK GBP.12431290.8%
MAGI holds 2,075 securities in total. These 10 are 11.0% of the fund.
Where the money is invested
Sectors
- Utilities40.0%
- Industrials39.1%
- Energy12.5%
- Healthcare4.2%
- Real Estate2.7%
- Communication Services1.0%
Countries
- United States54.2%
- Other15.1%
- Canada6.5%
- France4.6%
- Japan3.0%
- Spain2.4%
How to invest in MAGI 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 MAGI and buy
Find the fund by its ticker, MAGI, on the London Stock Exchange ETF segment, and place your order.
Why invest in MAGI from India
What MAGI holds
The primary goal of this Fund is to replicate the movements of the international infrastructure landscape. It achieves this by investing in exchange-listed shares and debt securities associated with infrastructure assets.
Outside US estate tax
MAGI 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
MAGI 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 MAGI's UCITS structure matters for Indian investors
MAGI 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 MAGI from India?
Yes. Indian residents can buy SSgA SPDR ETFs Europe II PLC - State Street SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Ptg (MAGI) 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 MAGI invest in?
SSgA SPDR ETFs Europe II PLC - State Street SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Ptg holds 2,075 securities. Its largest holdings are UNION PACIFIC CORP COMMON STOCK USD2.5 (1.6%), NEXTERA ENERGY INC COMMON STOCK USD.01 (1.6%) and IBERDROLA SA COMMON STOCK EUR.75 (1.4%). Utilities is its largest sector at 40.0%. It is a distributing fund domiciled in Ireland.
What is the expense ratio of MAGI?
SSgA SPDR ETFs Europe II PLC - State Street SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Ptg has an expense ratio of 0.4% a year, taken from the fund's assets rather than billed to you. The fund manages about $814.6M.
Is MAGI a UCITS ETF, and why does that matter for Indian investors?
Yes. SSgA SPDR ETFs Europe II PLC - State Street SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Ptg 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.
How are MAGI dividends taxed in India?
SSgA SPDR ETFs Europe II PLC - State Street SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF Ptg is a distributing fund. It pays the dividends from its holdings out to you in cash. Dividends are taxed at your slab rate in India. Paasa's dividend report lists the gross dividend and any tax withheld for each payment.
What tax do I pay in India when I sell MAGI?
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.