Widely read:
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.
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