ICICI Prudential Mutual Fund announces discontinuation of subscription in its three international funds with effect from March 2. The three international funds are - ICICI Prudential US Bluechip Equity Fund, ICICI Prudential Nasdaq 100 Index Fund, ICICI Prudential Strategic Metal and Energy Equity Fund of Funds.
The fund house informed about this discontinuation to its unitholders through a notice cum addendum.
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According to the fund house, lump sum mode (including Switches), Systematic Investment Plan and/or Systematic Transfer Plan registration (where such schemes are target schemes), special products/features like Freedom SIP, SIP Top Up facility, Booster SIP, Flex STP, Booster STP, Capital Appreciation STP, Transfer-in of Income Distribution cum Capital Withdrawal Plan (IDCW) will be discontinued.
Further, with respect to the existing systematic transactions, the AMC shall continue processing the systematic transaction installments subject to compliance with the provisions specified in the scheme information documents of the aforesaid schemes and such other conditions as specified by SEBI/AMFI.
The AMC may resume acceptance of subscriptions in the aforesaid schemes in the event of availability of limits or enhancements of limits or issuance of any clarification by SEBI/AMFI in this regard.
Redemptions and/or switch-outs including existing STP-Out and/or Systematic Withdrawal Plan (SWP) registered under any mode/facility for redeeming/ switching out from the Scheme shall be continued.
In January 2026, the fund house resumed subscriptions in these three international funds with effect from January 27 and the fresh/additional purchases through lumpsum mode, switch into the schemes, Systematic Investment Plan and/or Systematic Transfer Plan (cumulative for all frequencies) were capped at Rs 2 lakhs per PAN per month per scheme level.
Also Read | ICICI Prudential Mutual Fund resumes subscription in its 3 international funds with cap of Rs 2 lakh
In July 2025, the fund house announced resuming subscription in these three international funds through any of the modes such as Lump sum mode (including switches), Systematic Investment Plan and/or Systematic Transfer Plan registration (target scheme).
The restrictions were imposed after Sebi asked mutual funds to stop fresh subscriptions in overseas ETFs as the $1 billion investment limit was about to get breached.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
The fund house informed about this discontinuation to its unitholders through a notice cum addendum.
Also Read | Flexi-cap, mid-cap, small-cap and gold ETF. Is this a balanced mutual fund portfolio for young investors?
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According to the fund house, lump sum mode (including Switches), Systematic Investment Plan and/or Systematic Transfer Plan registration (where such schemes are target schemes), special products/features like Freedom SIP, SIP Top Up facility, Booster SIP, Flex STP, Booster STP, Capital Appreciation STP, Transfer-in of Income Distribution cum Capital Withdrawal Plan (IDCW) will be discontinued.
Further, with respect to the existing systematic transactions, the AMC shall continue processing the systematic transaction installments subject to compliance with the provisions specified in the scheme information documents of the aforesaid schemes and such other conditions as specified by SEBI/AMFI.
The AMC may resume acceptance of subscriptions in the aforesaid schemes in the event of availability of limits or enhancements of limits or issuance of any clarification by SEBI/AMFI in this regard.
Redemptions and/or switch-outs including existing STP-Out and/or Systematic Withdrawal Plan (SWP) registered under any mode/facility for redeeming/ switching out from the Scheme shall be continued.
In January 2026, the fund house resumed subscriptions in these three international funds with effect from January 27 and the fresh/additional purchases through lumpsum mode, switch into the schemes, Systematic Investment Plan and/or Systematic Transfer Plan (cumulative for all frequencies) were capped at Rs 2 lakhs per PAN per month per scheme level.
Also Read | ICICI Prudential Mutual Fund resumes subscription in its 3 international funds with cap of Rs 2 lakh
In July 2025, the fund house announced resuming subscription in these three international funds through any of the modes such as Lump sum mode (including switches), Systematic Investment Plan and/or Systematic Transfer Plan registration (target scheme).
The restrictions were imposed after Sebi asked mutual funds to stop fresh subscriptions in overseas ETFs as the $1 billion investment limit was about to get breached.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
