Edelweiss Mutual Fund Imposed Limits on Subscription in These 7 Mutual Funds
Edelweiss Mutual Fund has now put a limit on the maximum amount that can be invested in certain mutual funds per day. Now investors can invest 1 lakh per day per PAN for lumpsum, switch-in, Systematic Transfer Plan (SIP), and Systematic Transfer Plan (STP). The changes will be effective from February 27, 2025.
These funds include six international funds and one index fund:
1. Edelweiss Greater China Equity Offshore Fund
2. Edelweiss ASEAN Equity Off-shore Fund
3. Edelweiss US Value Equity Off-shore Fund
4. Edelweiss US Technology Equity FoF
5. Edelweiss Europe Dynamic Equity Offshore Fund
6. Edelweiss Emerging Markets Opportunities Equity Offshore Fund
7. Edelweiss MSCI India Domestic & World Healthcare 45 Index Fund
Any transactions made before February 25, 2025, and within the cut-off time will not be affected by this new rule. Your current ongoing SIP (systematic investment plan) or STP (systematic transfer plan) will also remain unaffected.
As per the fund house, these changes were made because the international funds are getting close to the maximum limit of the amount that can be invested in foreign markets, which was set on February 1, 2022. Due to this change, the SID (Scheme Information Document) and KIM (Key Information Memorandum) for the designated mutual fund schemes will be updated accordingly.
The fund house informed its investors about these changes through a notice cum addendum, which will become an important part of these documents and will override any conflicting provisions. All other rules of SID, KIM, and SAI will remain the same.
The notice also stated that investors were informed about the reopening of subscriptions to some schemes of Edelweiss Mutual Fund via the notice-cum-addendum dated April 1, 2023, according to SEBI letter SEBI/HO/OW/IMD-II/DOF3/25095/2022 dated June 17, 2022. The letter permitted mutual funds to reopen subscriptions and invest in overseas funds or securities within the available limit without exceeding the overseas investment limits specified on February 1, 2022.
