The changes will be effective from October 18. The fund house informed about this to its unitholders through a notice cum addendum.
The fund house has suspended subscription from below mentioned schemes:
“Pursuant to SEBI email dated January 28, 2022 read with AMFI communication dated January 30, 2022 in order to avoid breach of industry-wide overseas investment limits as allowed by RBI, lumpsum subscription, switch-ins and fresh registration of SIP/STP or such other special product were temporarily suspended for certain schemes of Nippon India Mutual Fund which invest in overseas securities,” said the notice.
This move to suspend subscriptions was based on the prevailing headroom for such schemes investing in overseas securities and to avoid breaching the overseas investment limits at the Mutual Fund level.
The fund house also informed that lumpsum subscription or switch-in applications received post the respective applicable cut-off time of the applicable scheme as of October 17, 2024 shall not be accepted and processed.
The said suspension is not applicable for intra scheme switches between Plan(s) and Option(s) in the same scheme and existing registered SIP/STP or such other special product transactions.
The aforesaid suspension is temporary in nature and shall be reviewed based on any increase in available headroom without breaching overseas investment limits mentioned above or further enhancement of limit by regulators in this regard.
This addendum forms an integral part of Scheme Information Document and Key Information Memorandum of the above mentioned scheme(s) of Nippon India Mutual Fund and all the other terms and conditions of the aforesaid document read with the addenda issued from time to time will remain unchanged.
On October 11, the fund house informed resumption of subscription with effect from October 15 in the same international funds.
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