The changes will take effect from October 18. The fund house informed its participants of this through a notice cum addendum.
The fund house has suspended subscription to the below mentioned schemes:
“Pursuant to SEBI email dated January 28, 2022 read with AMFI communication dated January 30, 2022 to avoid non-compliance with industry-wide overseas investment limits as permitted by RBI, global subscription, changes and re-registration of SIP/STP o Such other special products have been temporarily suspended for certain schemes of Nippon India Mutual Fund investing in foreign securities,” the notice said.
This measure of suspending subscriptions was based on the existing room for maneuver for such schemes that invest in foreign securities and to avoid violating foreign investment limits at the mutual fund level.
The fund house also informed that lump sum subscription or redemption requests received after the respective cut-off time of the scheme applicable from October 17, 2024 will not be accepted or processed.
Such suspension is not applicable for intra-scheme changes between Plans and Options in the same scheme and existing registered SIP/STP transactions or other special product transactions.
The above-mentioned suspension is temporary in nature and will be reviewed based on any increase in the available margin without violating the above-mentioned overseas investment limits or further enhancing the limit by the regulators in this regard.
This annexure forms an integral part of the Scheme Information Document and Key Information Memorandum of the above-mentioned schemes of Nippon India Mutual Fund and all other terms and conditions of the above-mentioned document, read with the annexures issued from time to time, shall remain unchanged. .
On October 11, the fund house reported the resumption of subscription with effect from October 15 in the same international funds.
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