Investing in US securities as an Indian resident involves risks in addition to those applicable to Indian market investments. Key risks include, without limitation:

Market Risks
Investments are executed in markets outside India operating under different laws, regulations, financial conditions, trading hours, holiday calendars, disclosure norms, and investor-protection and dispute resolution standards.
Currency and Exchange Rate Risk
Investments are subject to exchange rate movements. Adverse currency fluctuations may affect returns at the time of conversion to the user's base currency.
Custody Risk
Assets and funds may be held with foreign brokers, custodians, or intermediaries. Their insolvency or operational failure could lead to loss of assets or funds.
Liquidity and Settlement Risk
Settlement cycles, market liquidity, or operational processes in foreign markets may differ by jurisdiction. Investments may face delay in execution and settlement based on the laws and practices of the concerned jurisdiction.
Technology, Time-Zone and Cyber Risk
Orders placed across time zones and through electronic trading systems are subject to latency, system outages, or price gaps. In the event of a cyber attack, the confidentiality, integrity, or availability of data, including personal information, may be compromised.
Product and Suitability Risk
Foreign market instruments may be complex and highly risky. Users should ensure that any US Basket is suitable for their financial situation and risk appetite before investing.
Regulatory and Legal Risk
Trading and investing are subject to the laws and regulations of the relevant foreign jurisdiction. Investor protection, dispute resolution, and supervisory frameworks of that jurisdiction may apply. Investments in certain foreign jurisdictions may face restrictions or prohibitions. Users should remain updated on changes in applicable laws and regulations.
Taxation Risk
Investments may attract taxes, withholding, or reporting obligations in both India and the relevant foreign jurisdiction. Tax treatment may change without notice. Users are responsible for their own tax compliance, maintaining adequate documentation, and remaining updated on applicable tax requirements.
Remittance and Regulatory Compliance Risk
All fund transfers must comply with applicable Indian laws, including the Liberalised Remittance Scheme (LRS), and with the laws of the relevant foreign jurisdiction. The annual LRS limit per resident individual is presently USD 250,000 and is subject to revision. Tax Collected at Source (TCS) may apply on remittances. Remittances made under LRS for investment in US securities are subject to applicable utilisation and repatriation requirements under LRS. Users are responsible for ensuring compliance with such requirements.
Geopolitical Risk
Political instability or social developments abroad may significantly influence international markets and investment valuations.

In light of the risks involved, invest in US securities only after understanding all applicable risks. Please consider your financial position, risk tolerance, LRS limits, and tax obligations before making any investment decision.

No Regulatory Recourse for Research Services

The research services of the Manager fall outside the regulatory purview of financial sector regulators including SEBI and IFSCA. Users are made aware that none of the investor protection mechanisms under SEBI and IFSCA shall be available in relation to such research services.