Nippon India Mutual Fund suspends subscription in four overseas funds
Nippon India Mutual Fund has decided suspension of subscription in its four schemes.
The fund house informed about this to its unitholder through a notice-cum-addendum. The changes will be effective from February 26.
The fund house informed that the lumpsum subscription, switch-ins and fresh registration of SIP/STP or such other special products under its overseas funds are being suspended temporarily.
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The overseas schemes are: Nippon India US Equity Opportunities Fund, Nippon India Japan Equity Fund, Nippon India Taiwan Equity Fund, and Nippon India ETF Hang Seng BeES.
Thh fund house informed that the aforesaid suspension is temporary in nature and shall be reviewed based on any increase in available headroom without breaching overseas investment limits mentioned above or further enhancement of limit by regulators in this regard.
The notice-cum-addendum stated that lumpsum subscription or switch-in applications received post the respective applicable cut-off time of the applicable scheme as of February 23, 2024 shall not be accepted and processed.
Further applications for creation of units of Exchange Traded Funds (ETF) of above-mentioned ETF received directly by the fund house from an investor including large investors shall not be accepted.
The fund house further clarified that the said suspension is not applicable for intra scheme switches between plan(s) and option(s) in the same scheme and existing
