Edelweiss Mutual Fund suspends lumpsum investments in 7 international funds

Edelweiss Mutual Fund has temporarily suspended transactions except for SIPs, and STPs in their international schemes. Seven mutual fund schemes investing in global markets — Edelweiss ASEAN Equity Off-shore Fund, Edelweiss Greater China Equity Off-Shore Fund, Edelweiss US Technology Equity Fund of Fund, Edelweiss Emerging Markets Opportunities Equity Offshore Fund, Edelweiss Europe Dynamic Equity Offshore Fund, Edelweiss US Value Equity Off-Shore Fund and Edelweiss MSCI India Domestic & World Healthcare 45 Index Fund — will be temporarily suspended from February 10, 2023.

“Investors are now requested to note that the following schemes are now reaching closer to the headroom available for overseas investment limit as set on February 1, 2022, at the mutual fund level and hence it is decided to temporarily suspend the transactions with effect from February 10, 2023, post cut-off timings,” the fund house said in a notice.

The fund house has said that fresh as well as existing SIP/STP/ DTP instalments shall not be affected as of now and shall continue as is. Lumpsum subscription will not be accepted from February 10.  Switch-out, redemptions, registration of fresh systematic withdrawal plan, and instalments of existing systematic withdrawal plan will not be impacted.