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Summary: 54 of the 66 international funds we track no longer accept fresh money. The industry hit its overseas investment ceiling in 2022 and the doors have been closing since. Here are the 12 that still take a fresh SIP. And what the one-year numbers on that list are worth.
The industry has hit its ceiling for foreign investment, and one fund house after another has closed the door. Of the 66 international funds we track, 12 still accept fresh SIPs, and 1 accepts lumpsums. Access did not change this week.
The RBI rule behind the closures
Indian mutual funds may hold only so much abroad. The RBI and SEBI cap the industry at $7 billion in foreign securities, with a separate $1 billion limit for overseas ETFs, and a further $1 billion limit per fund house. Those figures have stood since 2008.
The industry crossed the $7 billion mark in January 2022. Since then, each fund house may invest overseas only up to the headroom it held at the end of February 1, 2022. That level is frozen. A fund reopens for fresh money only when its own investors redeem, or when global markets fall, and its overseas holdings shrink in value, freeing a little room beneath the frozen line. Houses then ration that room, which is why several of the funds below cap a fresh SIP at Rs 5,000 a month.
The purpose of the cap is to limit foreign-exchange outflows and ease pressure on the rupee. It says nothing about the quality of any fund. A closed door reflects a full bucket, not a weak scheme.
Why these funds still matter
For an Indian investor, a rupee-denominated international fund is the simplest and safest way to own assets abroad. You invest in rupees, hold the fund in your usual folio, and face no foreign paperwork, no separate overseas account, and no tax collected at source on the way out. The two alternatives both carry friction. The Liberalised Remittance Scheme routes your own money abroad, but adds tax collected at source and the task of picking every holding yourself. India-listed global ETFs trade on any day, but the same frozen cap has choked the supply of new units, so many change hands at prices above the value of their holdings.
The funds open for a fresh SIP today
| Fund / Invests in | Lumpsum? | SIP cap (Rs) | 1Y | 3Y | 5Y |
|---|---|---|---|---|---|
| Baroda BNP Paribas Aqua FoF Global water theme | Yes | No cap | 20.5 | 15.1 | 10.3 |
| Franklin Asian Equity Asia, ex-Japan | No | 50,000/mo | 46.5 | 21.8 | 8.0 |
| Franklin U.S. Opportunities Equity Active FoF U.S. growth | No | 50,000/mo | 22.6 | 22.7 | 10.6 |
| PGIM India Global Equity Opportunities FoF Global growth | No | 50,000/day | 21.1 | 18.7 | 8.4 |
| PGIM India Emerging Markets Equity FoF Emerging markets | No | 50,000/day | 43.1 | 28.7 | 3.8 |
| PGIM India Global Select Real Estate Sec FoF Global REITs | No | 50,000/day | 25.7 | 16.3 | NA |
| Edelweiss US Technology Equity FoF U.S. technology | No | 5,000/mo | 44.2 | 32.8 | 17.0 |
| Edelweiss Europe Dynamic Equity Offshore Europe | No | 5,000/mo | 30.5 | 24.7 | 15.8 |
| Edelweiss US Value Equity Offshore U.S. value | No | 5,000/mo | 33.8 | 20.1 | 14.4 |
| Edelweiss Emerging Markets Opp. Equity Offshore EM | No | 5,000/mo | 68.8 | 28.7 | 10.7 |
| Edelweiss ASEAN Equity Offshore Southeast Asia | No | 5,000/mo | 25.8 | 15.5 | 10.4 |
| Edelweiss Greater China Equity Offshore China, HK, Taiwan | No | 5,000/mo | 57.7 | 23.7 | 4.3 |
| CAGR (per cent), direct plan, growth. Status and returns as of July 2, 2026. Source: Value Research. SIP caps are per investor (PAN level); PGIM caps apply per day, the others per month. FoF means fund of funds, an Indian fund that routes your money into an overseas fund. NA means a five-year record is not yet available. Past returns do not guarantee future results. | |||||
Access is only half the question. Whether any of these funds belongs in your portfolio and how much international exposure makes sense alongside everything else you hold is the other half. Value Research Fund Advisor helps you figure out exactly that.
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