In Line With SEBI Guidelines Mirae Has also Ceased Fresh Subscriptions in its Overseas Funds

As we all know Parag Parikh AMC(PPFAS AMC)has ceased fresh subscriptions in Parag Parikh Flexi Cap Fund in accordance with SEBI(Securities and Exchange Board of India)guidelines. As SEBI tightens guidelines on overseas funds(International Funds)other amc’s are also on it’s way to follow SEBI orders.

As per SEBI guidelines one of the popular amc “Mirae Asset Mutual Fund” has also restricted fresh inflows into schemes of-

  • Mirae Asset NYSE FANG+ETF
  • Mirae Asset NYSE FANG+ETF Fund of Fund
  • Mirae Asset S&P 500 Top 50 ETF
  • Mirae Asset S&P 500 Top 50 ETF Fund of Fund
  • Mirae Asset Hang Seng Tech ETF
  • Mirae Asset Hang Seng Tech ETF Fund of Fund

As per the fund house(Mirae Asset)fresh subscriptions into this schemes were “Temporarily Suspended” until further enhancement order from SEBI.

That Means post February 1st,2022 cut-off time(3.00 PM)an investor can’t subscribe to the aforesaid schemes until due notice from the amc. The AMC will relaxes this restriction once SEBI relaxes guidelines on overseas funds. While the existing investors will continue to trade units on stock exchanges and hold units in demat form, there would be no impact on the existing investors, only new investors can’t trade in the aforesaid schemes. Investors should do note this.

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