Motilal Oswal Mutual Fund has restricted fresh investments in three international funds — Motilal Oswal S&P 500 Index Fund, Motilal Oswal MSCI EAFE Top 100 Select Index Fund and Motilal Oswal Nasdaq 100 Fund of Fund. This is similar to Kotak and Edelweiss — with effect from March 10, 2023.

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Motilal Oswal Mutual Fund said there is limited headroom available for investments in overseas funds/securities, which is why it temporarily restricting fresh switch-in, lumpsum, systematic transfer-in, in the mentioned schemes.

However, these restrictions do not apply to the ongoing SIPs, fresh SIPs, redemptions or switch-out and systematic withdrawal plans (SWPs).

It added that the direct creation of units under Motilal Oswal Nasdaq 100 ETF as well as Motilal Oswal Nasdaq Q50 ETF would be continued.

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Motilal Oswal's restrictions are similar to the ones by Kotak and Edelweiss in February.

Last month, the Kotak Nasdaq Fund of Fund temporarily suspended subscription from February 10, Kotak Mutual Fund (MF) said in a statement. It will pause Systematic Investment Plans (SIPs), transfer plans, dividend transfer plan with reference from March 1, 2023 till further notice, Kotak MF said. This has been done in order to avoid the breach of limit in open ended fund of funds investing in overseas exchange traded funds (ETFs), the asset management company said.

Edelweiss Mutual Fund also temporarily suspended transactions except for SIPs, and STPs in their international schemes.

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First Published:Mar 7, 2023 4:00 PM IST