AMFI caps MF global investments; check details here
The Association of the Mutual Funds of India (AMFI) board has advised asset management companies to stop inflows into schemes with international mandates, sources told CNBC-TV18.
The Association of the Mutual Funds of India (AMFI) board has advised asset management companies to stop inflows into schemes with international mandates, sources told CNBC-TV18.
The mutual fund (MF) industry was given a total corpus of USD 7 billion, which it could use to invest in overseas stocks. This limit has been breached leading to the AMFI advising asset AMCs to not accept inflows into schemes which have the mandate to invest in international stocks.
From today, the AMCs also won’t be allowed to buy international stocks. Some AMCs have announced that they are stopping their inflows and some are even looking to stop SIPs.
Watch the accompanying video of CNBC-TV18’s Sumaira Abidi for more details.
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