Five months on, some mutual funds reopen subscription to global funds

A few asset management companies (AMCs) offering schemes that invest in overseas stocks have started accepting fresh inflows from investors after a gap of nearly five months.

Edelweiss AMC on Monday said it has revoked the temporary suspension in seven of its international offerings with effect from June 21.

ICICI Prudential AMC, too, approved resuming subscriptions in five of its schemes with effect from June 22.

On January 31, markets regulator Securities and Exchange Board of India had directed AMCs to stop accepting fresh inflows into overseas schemes after the $7-billion industry-wide investment threshold got breached.

While the investment ceiling