Mirae Asset Mutual Fund stops accepting money in overseas funds

economictimes.indiatimes.com:

Mirae Asset Mutual Fund has temporarily suspended the lumpsum subscription, fresh systematic investment plan and systematic transfer plan in its overseas schemes such as Mirae Asset NYSE FANG+ ETF Fund of Fund, Mirae Asset S&P 500 Top 50 ETF Fund of Fund, and Mirae Asset Hang Seng TECH ETF Fund of Fund.

The subscription will be temporarily suspended post close of business hours of January 5. The fund house has decided to suspend the fresh subscriptions in order to avoid breach of limit as of February 1, 2022.
The fund house informed the unitholders about this through addendum cum notice.

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The fund house also informed the unitholders that applications for creation of units of Exchange Traded Funds (ETF) of Mirae Asset NYSE FANG+ ETF, Mirae Asset S&P 500 Top 50 ETF, and Mirae Asset Hang Seng TECH ETF received directly by the fund house from an investor including large investors shall not be accepted and processed post close of business hours of January 5.

The fund house also stated that the suspension is temporary in nature and will be reviewed depending upon the buffer created due to the redemptions into these schemes or till further enhancement of limit by SEBI/RBI in this regard.

The subscription through existing SIP/STP will continue till further notice. However, no fresh SIP / STP registrations will be allowed in the aforementioned schemes. Intra and inter scheme switch-ins will not be allowed in the aforementioned schemes.
The fund house further informed that the suspension is not applicable to redemption/ switch-out applications/ systematic withdrawal plans (SWPs) received by the fund house for the