Mirae Asset Mutual Fund withdraws temporary suspension in large & mid cap fund
Mirae Asset Mutual Fund has announced the withdrawal of the existing temporary suspension on subscription in Mirae Asset Large and Midcap Fund. The fund will resume accepting subscriptions through Systematic Investment Plans (SIP), Systematic Transfer Plans (STP), switch-ins, and lump-sum investments.
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The changes will be effective from August 1. The scheme will be open for subscription across all investment modes without any capping while subject to minimum subscription limits as defined under the offer document of the scheme.
The fund house had suspended Systematic Investment Plan (SIP), Systematic Transfer Plan (STP), Switch-ins and lumpsum subscriptions.
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The decision to lift the existing temporary suspension on subscription through various modes is based on multiple factors, including the expansion of the investment universe, increased market depth and liquidity, and the overall growth in fund size.
Since the initial restriction in November 2020, which limited SIP investments to Rs 2,500 monthly (later increased to Rs 25,000 in October 2023), Indian equities have experienced substantial growth. The Nifty 50 Total Return Index (TRI) and Nifty Midcap 150 TRI have risen by approximately 1.2 times and 2.3 times, respectively, as of July 24, 2024 (Source: NSE
