Kotak, Edelweiss stop fresh investments in international mutual funds

Kotak MF and Edelweiss MF place restrictions on investments as they near their international investment limits

Mutual Funds, MF industry
Abhishek Kumar Mumbai
2 min read Last Updated : Feb 10 2023 | 10:33 PM IST
Kotak Mahindra Mutual Fund (MF) and Edelweiss MF have stopped accepting fresh investments in their international schemes as they are about to reach their international investment limits.

Edelweiss MF has stopped taking lump sum investments in seven of its international schemes including ASEAN Equity Off-shore Fund, Greater China Equity Off-shore Fund and US Technology Equity Fund of Fund. Investments, though, can still be made through systematic investment plans (SIPs). Kotak MF has completely suspended investments (both lump sum and SIP) in Nasdaq Fund of Fund.

The suspensions come a day after Reserve Bank of India Governor Shaktikanta Das said there was no proposal to increase the overseas investment limits for domestic mutual funds as of now.

On January 31, the Securities and Exchange Board of India had directed fund houses to stop accepting fresh inflows into overseas schemes after the $7-billion industry-wide investment threshold got breached. A few months later they were allowed to take fresh investments and deploy them overseas, provided the international investments do not breach February 1, 2022 level.

Since then, fund houses have opened international schemes for subscription as and when they have enough head room to make international investments.

Disclosure: Entities controlled by the Kotak family have a significant holding in Business Standard Pvt Ltd


One subscription. Two world-class reads.

Already subscribed? Log in

Subscribe to read the full story →
Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

Topics :Kotak Mahindra Mutual FundEdelweiss MFglobal equityInvestment

Next Story