Kotak Mutual Fund It will now accept subscriptions through various methods including lump sum investments, new systematic investment plans (SIPs), systematic transfer plans (STPs) and dividend transfer plans (DTPs).
The fund manager will closely monitor the total overseas investment limit, ensuring compliance with the Securities and Exchange Board of India (SEBI) directive.
In order to comply with SEBI regulations, Kotak Mutual Fund has limited its overseas investments to the amount recorded as on February 1, 2022.
This decision followed a temporary suspension of trading in the Kotak Global Emerging Market Fund effective February 2, 2022.
The suspension was put in place to avoid violating industry-wide foreign investment limits set by the Reserve Bank of India (RBI).
In a letter dated June 17, 2022, SEBI has allowed mutual fund schemes to resume overseas investments, provided they do not exceed the limits available as on February 1, 2022.
Kotak Mutual Fund has resumed subscriptions within the prescribed limits.
What this means for investors
Investors in the Kotak Global Emerging Markets Fund They can now re-enter the market or increase their investments through the reopened subscription options.
However, the fund manager has stressed that it could suspend subscriptions again if it approaches the limit on overseas investment previously set.
Kotak Mutual Fund has clarified that all other terms and conditions described in the Statement of Additional Information (SAI), Scheme Information Document (SID) and Key Information Memorandum (KIM) remain unchanged.
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