Edelweiss MF opens up investment in overseas funds

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Edelweiss Mutual fund has opened up fresh investment in seven of its schemes investing in international markets as market regulator SEBI provided a leeway for fund houses to fill-in the gap after the sharp fall in global markets.

Earlier, the Association of Mutual Funds in India had capped mutual funds investment in global markets at the February-level as it was nearing the overall limit of $7 billion fixed for the industry by the RBI.

Sebi in a notification dated June 17 has informed that mutual funds can resume subscriptions and make investments in overseas funds and securities up to head room available without breaching the overseas investment limits as of February 1 at mutual fund level, said Edelweiss MF in a statement.

Following this, Edelweiss Asset Management has decided to revoke the temporary suspension of transactions in Edelweiss ASEAN Equity Off-shore Fund, Greater China Equity Off-shore, US Technology Equity Fund of Fund, Emerging Markets Opportunities Equity Offshore, Europe Dynamic Equity Offshore, US Value Equity Off-shore, MSCI India Domestic & World Healthcare 45 Index from Tuesday.

The fund house will accept lumpsum subscription, fresh systematic investment plan, systematic transfer plan and switch-out or instalments of systematic dividend transfer plan in these schemes.

The AMC at its discretion reserves the right to suspend the subscriptions as and when it is close to the headroom limit which was set on February 1, it added.

Published on June 21, 2022

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