Nippon India Mutual Fund suspends investments in overseas schemes

After briefly re-opening subscriptions in its international schemes this week, Nippon India Mutual Fund has announced a temporary suspension, effective from October 18, 2024.

The suspension applies to all modes of investments, including lumpsum, switch-in, fresh Systematic Investment Plan (SIP) or Systematic Transfer Plan (STP). The affected schemes are as follows:

· Nippon India US Equity Opportunities Fund
· Nippon India Japan Equity Fund
· Nippon India Taiwan Equity Fund
· Nippon India ETF Hang Seng BeES

Existing SIP/STP will continue to be processed. Further, the restriction doesn't apply to intra-scheme switches between plans and options.

The decision aims to comply with SEBI rules concerning industry-wide limits on overseas investments.