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Summary: Invesco stopped lump sums a day after reopening three international funds, but kept new SIPs. So one of India's 60 international funds takes lump sums, and four take new SIPs. PGIM reopens one for lump sums on October 8. Among ETFs, the Q50 still trades at a premium of 63 per cent.
Invesco opened three international funds to lump sums on September 28. On September 29, it shut them again.
Aditya Birla Sun Life did the same with three funds on September 24.
So only one of 60 international funds takes a lump sum: Baroda BNP Paribas Aqua.
But Invesco's notice has a second half. It stopped lump sums and switch-ins. It did not stop new SIPs.
Why the door shuts in a day
Indian mutual funds can invest only about $7 billion abroad in total, and each fund house gets a share. Since June 2022, SEBI has held each house to the overseas limit it had on February 1, 2022. New money gets in only when there is headroom under that limit.
So a reopening lasts only as long as the headroom does. Invesco's notice says it stopped lump sums to avoid breaching its limit.
The SIP door is wider
Invesco still takes new SIPs into all three funds, up to Rs 10 lakh a day per PAN. That limit also counts instalments already registered in the three funds. If a day's total crosses it, all of that day's instalments are rejected, not just the excess. Redemptions carry on as usual.
One door opens on October 8
PGIM India reopens its Global Select Real Estate Securities FoF on October 8. You can put in a lump sum, and your existing SIPs will go through. But you cannot start a new SIP.
Where the doors stand this week
|
Fund / Invests in
|
Lump sum | New SIP | Limit per PAN per day | 1Y (%) | 3Y (%) | 5Y (%) |
|---|---|---|---|---|---|---|
| Baroda BNP Paribas Aqua FoF / Global water theme | Open | Open | None stated | 9.1 | 15.2 | 9 |
| Invesco India Global Equity Income FoF / Global dividend payers | Shut from Sep 29 | Open | Rs 10 lakh | 17.4 | 22.7 | 17.3 |
| Invesco India Pan European Equity FoF / Large European companies | Shut from Sep 29 | Open | Rs 10 lakh | 30 | 21.1 | 15.6 |
| Invesco India Global Consumer Trends FoF / Global consumer companies | Shut from Sep 29 | Open | Rs 10 lakh | -5.9 | 24.3 | 4.9 |
| PGIM India Global Select Real Estate Securities FoF / Global real estate securities | Opens Oct 8 | Shut | None stated | 9.9 | 15.2 | - |
| Direct plans. Returns in per cent as on September 30, 2026. Subscription status as on September 29, 2026. | ||||||
For US stocks, the door is the exchange
This week's four open funds own water companies, global dividend payers, European companies and consumer brands. For US stocks, the route left in India is an ETF on the stock exchange. And there, you pay more than the shares are worth.
Global ETF premiums stay high
An ETF's premium is how far its price sits above its NAV, the value of what it owns.
The Q50 ETF's price fell 4 per cent between September 23 and 30. Its NAV fell 0.8 per cent. So its premium dropped from 68 to 63 per cent. You still pay Rs 163 for Rs 100 of its Nasdaq shares.
Three others rose by 3 to 4 points.
Only the Hang Seng BeES trades close to its NAV, 2.2 per cent above it. Its premium averaged 14.4 per cent over the past year.
The Q50 still changed hands for Rs 57 crore a day last week, against Rs 1.4 crore normally. Its price can swing 20 per cent a day either way. Interest in it has not cooled, even as its premium has.
Global ETFs: the Q50 still costs 63 per cent over value
|
ETF
|
NAV (Rs) | Price (Rs) | Premium (%) | Avg prem. (%) | Avg daily trading (Rs cr) |
|---|---|---|---|---|---|
| Motilal Oswal Nasdaq Q50 | 119.68 | 194.62 | 62.6 | 14.8 | 1.4 |
| Mirae Asset S&P 500 Top 50 | 68.45 | 99.66 | 45.6 | 19.5 | 1.5 |
| Mirae Asset NYSE FANG+ | 179.85 | 240.79 | 33.9 | 19.7 | 5.6 |
| Mirae Asset Hang Seng TECH | 17.49 | 21.89 | 25.2 | 19.7 | 2.4 |
| Motilal Oswal NASDAQ 100 | 284.83 | 321.08 | 12.7 | 11 | 23.5 |
| Nippon India Hang Seng BeES | 447.75 | 457.47 | 2.2 | 14.4 | 8.1 |
| NSE close over same-day NAV, as on September 30, 2026. Averages: September 10, 2025 to September 3, 2026. | |||||
So what now?
If you want money abroad at NAV this week, four funds are taking new SIPs; none of them is US-focused. If you want US stocks through an ETF, you pay Rs 113 to Rs 163 for every Rs 100 of shares.
We will check both doors again next week.
But an open door answers only half the question. The other half is whether the fund belongs in your portfolio. Value Research Fund Advisor answers that, and plans the rest around your goals.
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