Business
Business Existing SIPs and STPs will continue to be processed, and intra-scheme switches between plans and alternate choices are now not affected.
By Anshul October 18, 2024, 12:09:07 PM IST (Printed)
Nippon India Mutual Fund has snappy suspended subscriptions for its international schemes starting October 18, 2024. This suspension affects all investment modes, including lump sum, switch-ins, and fresh registrations for Systematic Investment Plans (SIP) or Systematic Transfer Plans (STP).
The impacted schemes are:
- Nippon India US Equity Alternatives Fund
- Nippon India Japan Equity Fund
- Nippon India Taiwan Equity Fund
- Nippon India ETF Cling Seng BeES
Existing SIPs and STPs will continue to be processed, and intra-scheme switches between plans and alternate choices are now not affected.
The fund dwelling’s decision comes in response to SEBI’s laws, which cap the entire overseas investments that Indian mutual funds can construct. The regulatory limit is build at $7 billion for mutual funds, with individual fund houses allowed to invest as much as $1 billion every in foreign markets.
Nippon India MF snappy resumed international fund subscriptions on October 15, 2024, sooner than halting them again to maintain within SEBI’s prescribed limits.
In a separate building, Nippon India MF has launched two fresh schemes: Nippon India CRISIL – IBX AAA Financial Services and products – Dec 2026 Index Fund and Nippon India CRISIL – IBX AAA Financial Services and products – Jan 2028 Index Fund.
The fresh fund provide (NFO) for these schemes is on hand till October 21.