October 18, 2024

Nippon India Mutual Fund suspends investments in overseas schemes

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Nippon India Mutual Fund has temporarily suspended subscriptions for its international schemes starting October 18, 2024. This suspension affects all investment modes, including lump sum, switch-ins, and new registrations for Systematic Investment Plans (SIP) or Systematic Transfer Plans (STP).

The impacted schemes are:

Nippon India US Equity Opportunities Fund

Nippon India Japan Equity Fund

Nippon India Taiwan Equity Fund

Nippon India ETF Hang Seng BeES

Existing SIPs and STPs will continue to be processed, and intra-scheme switches between plans and options are not affected.
The fund house’s decision comes in response to SEBI’s regulations, which cap the total overseas investments that Indian mutual funds can make. The regulatory limit is set at $7 billion for mutual funds, with individual fund houses allowed to invest up to $1 billion each in foreign markets.

Nippon India MF briefly resumed international fund subscriptions on October 15, 2024, before halting them again to stay within SEBI’s prescribed limits.

In a separate development, Nippon India MF has launched two new schemes: Nippon India CRISIL – IBX AAA Financial Services – Dec 2026 Index Fund and Nippon India CRISIL – IBX AAA Financial Services – Jan 2028 Index Fund.

The new fund offer (NFO) for these schemes is available till October 21.

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