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Summary: Three more international funds have stopped even the SIPs that were already running. So what happens when an instalment falls due during a pause, and can a pause end worse? Meanwhile, this week's tech sell-off hit two global ETFs in opposite ways.
Invesco has gone a step further. From November 4, three of its international funds take no lump sums, no new SIPs and no instalments of SIPs already running.
That leaves two international funds open to new investors. Baroda BNP Paribas Aqua takes lump sums and new SIPs. PGIM India Global Select Real Estate Securities takes lump sums only.
The other 58 accept neither. In 31 of them, SIPs registered earlier still invest every month. The remaining 27, now including Invesco's three, take no money at all.
Invesco's SIP window was short-lived
The notice, dated November 3, covers Invesco India Global Equity Income, Pan European Equity and Global Consumer Trends. It also stops new STP transfers into these funds.
Lump sums have been shut since September 29, so the SIP route lasted about five weeks after the September 28 reopening. Redemptions, switch-outs and withdrawal plans carry on as usual.
Openings rarely last, at any fund house
This is not an Invesco habit. A fund house can put new money abroad only while it has room under its own overseas limit. Redemptions create room, fresh money uses it up, and the fund shuts again, sometimes within days.
Baroda BNP Paribas Aqua itself stopped taking new investors twice since July: from July 23 to August 3, and again from August 19 to September 1. HSBC reopened three international funds to new investors on August 18 and closed them again eight days later. Invesco paused running SIPs in these same three funds once before this year, between May 11 and August 18.
So for an SIP investor, the useful question is what a pause does. Invesco says the SIPs stay registered and restart when it lifts the suspension, so you need not do anything. Instalments that fall due in the meantime are not processed. And a pause need not end in a restart: in October, Edelweiss cancelled SIPs it had paused since August.
The tech sell-off cut both ways for ETF buyers
US technology shares fell this week on worries about heavy spending on AI. The Motilal Oswal Nasdaq 100 ETF's NAV dropped 5.2 per cent, but its price fell only 1.2 per cent. Its premium climbed from 6.5 to 11.0 per cent, close to its 52-week average of 12.2 per cent.
The Mirae Asset NYSE FANG+ ETF went the other way. Its NAV fell 4.4 per cent, while its price fell 9.5 per cent as the premium shrank from 42.0 to 34.5 per cent. Rs 131 crore of it traded in five sessions, almost three times its usual daily pace. The FoF that owns this ETF fell 9.5 per cent with the price.
The Motilal Oswal Nasdaq Q50 ETF's premium eased from 90.4 to 86.3 per cent, still more than three times its 52-week average of 27.9 per cent.
Then came November 5. The Nasdaq Composite lost 5.5 per cent, its worst day since April 2025, as chip stocks crashed after the US midterm elections. On such days, a shifting premium can soften an ETF buyer’s loss or deepen it, as the past week showed with the Nasdaq 100 and FANG+ ETFs.
Global ETFs: where the premium stands
| ETF | NAV (Rs) | Price (Rs) | Premium (%) | Prem. Oct 28 (%) | 52-wk avg prem. (%) | 52-wk avg daily trading (Rs cr) |
|---|---|---|---|---|---|---|
| Motilal Oswal Nasdaq Q50 ETF | 117.76 | 219.38 | 86.3 | 90.4 | 27.9 | 6.2 |
| Mirae Asset S&P 500 Top 50 ETF | 66.25 | 95.36 | 43.9 | 46.1 | 24.6 | 3.8 |
| Mirae Asset Hang Seng TECH ETF | 15.97 | 21.6 | 35.2 | 30.8 | 20.9 | 1.9 |
| Mirae Asset NYSE FANG+ ETF | 165.18 | 222.17 | 34.5 | 42 | 23.3 | 9.1 |
| Motilal Oswal Nasdaq 100 ETF | 262.96 | 291.79 | 11 | 6.5 | 12.2 | 23.4 |
| Nippon India ETF Hang Seng BeES | 430.04 | 453.14 | 5.4 | 3.3 | 11.8 | 7.1 |
| NSE close over same-day NAV, as on November 4, 2026. Averages: November 5, 2025 to November 4, 2026. | ||||||
So what now?
For a new SIP abroad through a mutual fund, Aqua is the only choice this week. For a lump sum, it is Aqua or PGIM's real estate fund. Both are narrow bets, one on water companies and the other on property shares.
On the exchange, the Nasdaq 100 ETF sits closest to value among the four US-focused ETFs, at about Rs 111 for Rs 100 of shares. Given how often funds open and shut, next week's list may look different again.
Where the doors stand this week
| Fund / Invests in | Lump sum | New SIP | Existing SIP | 1Y (%) | 3Y (%) | 5Y (%) |
|---|---|---|---|---|---|---|
| Baroda BNP Paribas Aqua FoF / Global water theme | Open | Open | Open | 18.7 | 17.4 | 9.1 |
| PGIM India Global Select Real Estate Securities FoF / Global real estate securities | Open | Shut | Open | 16 | 15.8 | - |
| Invesco India Pan European Equity FoF / Large European companies | Shut | Shut from Nov 4 | Paused from Nov 4 | 29.1 | 21.4 | 14.3 |
| Invesco India Global Equity Income FoF / Global dividend payers | Shut | Shut from Nov 4 | Paused from Nov 4 | 24.5 | 24.8 | 16.9 |
| Invesco India Global Consumer Trends FoF / Global consumer companies | Shut | Shut from Nov 4 | Paused from Nov 4 | -16.3 | 19.3 | 1.2 |
| Direct plans. Returns in per cent as on November 4, 2026; 3Y and 5Y annualised. Subscription status as on November 4, 2026. | ||||||
With only a water fund and a property fund taking new investors, being open is not a reason to buy either. Value Research Fund Advisor tells you whether one fits your portfolio, and what to hold alongside it.
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