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Summary: Sixty-six international funds exist in India. Twelve accept new SIPs. Three take a lumpsum.
You pick an international fund, open your app, and hit a wall: "Scheme closed for fresh subscription." It is one of the most common frustrations faced by Indian investors today. The good news: not every door is shut. Of the 66 international funds we track, 12 still accept new SIPs. Here is the full list and how to think about it.
Why do the doors keep closing
There isn't one limit here; there are two that matter, and they explain almost everything you see.
First, a shared bucket for the whole industry. The rules allow all our mutual funds together to hold only about $7 billion, roughly Rs 66,000 crore, in foreign shares. To put that in perspective, the industry manages over Rs 80 lakh crore in all; the entire overseas allowance is less than 1 per cent of that. It fills up fast.
Second, each fund house has its own $1 billion cap. This is the one people miss. A single house can slam its doors even while the industry bucket has room, because it has hit its own ceiling. That is why you often see a whole house, like Axis or Nippon, shut its entire international range on the same day, rather than one fund at a time.
So "closed" says nothing about a fund's quality. It means one of these buckets is full.
The squeeze is tighter than most investors realise. Of those 66 funds, only 12 accept new SIPs, and just 3 still accept lump sums. Another 29 are frozen halfway; they honour SIPs you already started, but turn away new ones. A door reopens mostly when existing investors sell or when global markets fall, and holdings shrink in value, freeing up a little room beneath the cap. Houses then ration that room, sometimes severely: the four open Edelweiss offshore funds cap your SIP at Rs 5,000 a month. A small, steady trickle is allowed in; a large cheque is not. That is why most open funds take only SIPs.
Why hold any global funds at all
Indian shares are barely 4 per cent of the world's stock-market value. Stay home, and you miss the other 96 per cent, the chipmakers, the software giants, the brands not listed here. A modest 10–20 per cent global slice spreads your risk. It also adds a currency cushion, since the rupee tends to weaken against the dollar over time.
Mind the risks too. Currency swings cut both ways. Valuations abroad can run richer than ours. And a fund tied to a single country can lurch with that one market.
The 12 funds open for fresh SIPs
| Fund | Invests in | Lumpsum? | 1Y (%) | 3Y (%) | 5Y (%) |
|---|---|---|---|---|---|
| Franklin U.S. Opportunities Equity Active FoF | U.S. growth companies | Yes | 31.6 | 25.5 | 13.8 |
| Baroda BNP Paribas Aqua FoF | Global water theme | Yes | 19.7 | 14.2 | 9.7 |
| Franklin Asian Equity | Asia, ex-Japan | Yes | 57.5 | 22.7 | 8.1 |
| Edelweiss US Technology Equity FoF | U.S. technology | No | 58.1 | 35.3 | 19.6 |
| Edelweiss Europe Dynamic Equity Offshore | Europe | No | 29.3 | 24.4 | 14.9 |
| Edelweiss US Value Equity Offshore | U.S. value stocks | No | 36.2 | 19.9 | 13.8 |
| Edelweiss Emerging Markets Opportunities Equity Offshore | Emerging markets | No | 84.8 | 30.3 | 11 |
| PGIM India Global Equity Opportunities FoF | Global growth equities | No | 30.3 | 21.2 | 11 |
| Edelweiss ASEAN Equity Offshore | Southeast Asia | No | 26.3 | 15.5 | 10.1 |
| PGIM India Emerging Markets Equity FoF | Emerging markets | No | 61.8 | 32 | 6.7 |
| Edelweiss Greater China Equity Offshore | China, Hong Kong, Taiwan | No | 72.4 | 24.5 | 4.8 |
| PGIM India Global Select Real Estate Sec FoF | Global real estate (REITs) | No | 23.2 | 15 | — |
| CAGR (per cent), direct plan, growth. Status and returns as of 2 June 2026. "FoF" = fund of funds, an Indian fund that routes your money into an overseas fund. | |||||
Open is not the same as worth buying
An open fund tells you a bucket has room. It tells you nothing about whether the fund deserves your money. And here is the trap: the eye-catching numbers and the available funds are mostly different sets. The biggest recent winners are shut; you cannot buy them. Even within the open twelve, the flashiest one-year figures rest on the weakest long-term records: the fund up 85 per cent over a year has returned 11 per cent a year over five years; the one up 72 per cent has managed under 5 per cent. A hot one-year number often reflects a market that has already run. Buy after the run, and you may inherit the fall.
That gap between what is available, what is dazzling, and what is worth owning is exactly what the Value Research Fund Advisor does. Check the verdict before you invest, not after.
Disclaimer: This content is for information only and should not be considered investment advice or a recommendation.
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