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Temporary Suspension Of Subscriptions In Certain Mutual Fund Schemes4 min read

February 1, 2022
temporary suspension of subscripts in certain mutual fund schemes paytm money blog

Temporary Suspension Of Subscriptions In Certain Mutual Fund Schemes4 min read

A few mutual funds will be temporarily suspending transactions as advised by SEBI pursuant to email dated January 28, 2022 and AMFI Clarification dated January 30, 2022, in order to avoid breach of industry-wide overseas limits as allowed by RBI and in terms of SEBI Circular no. SEBI/HO/IMD/IMD-II/DOF3/P/CIR/2021/571 (view the circular here) dated June 03, 2021.

But rest assured, this suspension is temporary and will continue only till further increase of limit by Regulators in this matter.

Temporary Suspension of New SIP, New Lumpsum Transactions and Existing SIPs 

The following mutual fund and their scheme will be temporarily suspending New SIP, Lumpsum and existing SIPs with effect from February 02, 2022:

The above mentioned transactions for the following schemes will not be accepted and processed if received post the cut off timing of February 01, 2022.

1. Mirae Asset Mutual Fund

  • Mirae Asset NYSE FANG+ ETF Fund of Fund
  • Mirae Asset Hang Seng TECH ETF Fund of Fund
  • Mirae Asset S & P 500 Top 50 ETF Fund of Fund

2. IDFC Mutual Fund

IDFC US Equity Fund of Fund

Temporary Suspension of New SIP, New Lumpsum Transactions WHILST  Existing SIPs Will Continue

The following Mutual Funds will be temporarily suspending new SIP, new lumpsum transactions whilst existing SIPs Will Continue with effect from February 02, 2022:

The above mentioned transactions for the following schemes will not be accepted and processed if received post the cut off timing of February 01, 2022.

1. PPFAS Mutual Fund

Parag Parikh Flexi Cap Fund 

2. Nippon India Mutual Fund

  • Nippon India US Equity Opportunities Fund
  • Nippon India Japan Equity Fund
  • Nippon India Taiwan Equity Fund
  • Nippon India Multi Asset Fund

3. Edelweiss Mutual Fund

  • Edelweiss ASEAN Equity Off-shore Fund
  • Edelweiss Greater China Equity Off-shore Fund
  • Edelweiss US Technology Equity Fund of Fund
  • Edelweiss Emerging Markets Opportunities Equity Offshore Fund
  • Edelweiss Europe Dynamic Equity Offshore Fund
  • Edelweiss US Value Equity Off-shore Fund
  • Edelweiss MSCI India Domestic & World Healthcare 45 Index Fund

4. DSP Mutual Fund

  • DSP US Flexible Equity Fund
  • DSP Global Allocation Fund
  • DSP World Gold Fund
  • DSP World Mining Fund
  • DSP World Agriculture Fund
  • DSP World Energy Fund

5. HDFC Mutual Fund

HDFC Developed World Indexes Fund of Funds

6. PGIM Mutual Fund

  • PGIM India Global Equity Opportunities Fund
  • PGIM India Emerging Markets Equity Fund 
  • PGIM India Global Select Real Estate Securities Fund of Fund (Designated Schemes)

7. ICICI Prudential Asset Management Company

  • ICICI Prudential US Bluechip Equity Fund
  • ICICI Prudential Global Stable Equity Fund (FOF)
  • ICICI Prudential Global Advantage Fund (FOF)
  • ICICI Prudential Nasdaq 100 Index Fund

8. Motilal Oswal Mutual Fund

  • Motilal Oswal S&P 500 Index Fund,
  • Motilal Oswal MSCI EAFE Top 100 Select Index Fund
  • Motilal Oswal Nasdaq 100 Fund of Fund

9. Invesco Mutual Fund

  • Invesco India – Invesco Global Equity Income Fund of Fund
  • Invesco India – Invesco Pan European Equity Fund of Fund
  • Invesco India – Invesco Global Consumer Trends Fund of Fund

10. SBI Mutual Fund

  • SBI International Access- US Equity FoF

11. Axis Mutual Fund

  • Axis Global Equity Alpha Fund of Fund
  • Axis Global Innovation Fund of Fund
  • Axis Greater China Equity Fund of Fund

12. Kotak Mutual Fund

  • Kotak Global Emerging Market Fund
  • Kotak Global Innovation Fund of Fund
  • Kotak International REIT FOF

13. Sundaram Mutual Fund

  • Sundaram Global Brand

14. Aditya Birla Mutual Fund

  • Aditya Birla Sun Life Global Emerging Opportunities Fund
  • Aditya Birla Sun Life International Equity-Plan-A
  • Aditya Birla Sun Life International Equity-Plan-B
  • Aditya Birla Sun Life CEF – Global Agri Plan
  • Aditya Birla Sun Life Global Excellence Equity Fund of Fund

15. BNP Paribas Mutual Fund

  • BNP Paribas Funds AQUA FOF Direct Growth

16. HSBC Mutual Fund

  • HSBC Asia Pacific Dividend Yield Fund
  • HSBC Global Consumer Opportunities Fund
  • HSBC Global Emerging Markets Fund
  • HSBC Global Equity Climate Change Fund of Fund
  • HSBC Brazil Fund – Growth

17. Mahindra Mutual Fund

  • Mahindra Manulife Asia Pacific REITs FOF

 

 

For the transactions, initiated post the cut-off time on 1st Feb 2022, those are likely to get rejected by the respective AMCs and post rejection customers would receive the refunds directly in their bank account from AMC. For any refund related queries, customers are advised to contact AMC directly, as Paytm Money does not receive refund related information from the AMC 

For the existing SIPs, to highlight again, that SIPs once deleted could not be restored again hence, customers are advised to do that at their discretion. Also, modifying the SIP could lead to deletion of the SIP by AMC and Paytm Money would not be able to restore back the SIP. 

Disclaimer – Mutual Fund investments are subject to market risks, read all scheme related documents carefully. This information is purely based on publicly available data and the content is for informational purpose only.