Description

ICICI Prudential Trust Limited has discontinued fresh lump sum subscriptions, SIP and STP registrations in three schemes effective March 02, 2026, due to SEBI/AMFI overseas investment limits. Existing systematic transactions and redemptions will continue.

Summary

ICICI Prudential Asset Management Company Limited has issued a Notice-cum-Addendum announcing the discontinuation of fresh subscriptions and new systematic registrations in three of its schemes effective March 02, 2026. The decision was approved by ICICI Prudential Trust Limited and is attributed to compliance with SEBI/AMFI overseas investment limits. Existing systematic transactions will continue to be processed, and redemptions remain unaffected.

Key Points

  • Fresh subscriptions via lump sum mode (including switches into these schemes) are discontinued with effect from March 02, 2026.
  • New SIP (Systematic Investment Plan) and STP (Systematic Transfer Plan) registrations where these schemes are the target are discontinued.
  • Special products discontinued include: Freedom SIP, SIP Top Up, Booster SIP, Flex STP, Booster STP, Capital Appreciation STP, and Transfer-in of IDCW plans.
  • Three schemes are affected: ICICI Prudential US Bluechip Equity Fund, ICICI Prudential Nasdaq 100 Index Fund, and ICICI Prudential Strategic Metal and Energy Equity Fund of Funds.
  • Existing SIP/STP instalments already registered will continue to be processed per scheme documents.
  • Redemptions, switch-outs, existing STP-Out, and SWP (Systematic Withdrawal Plan) registrations are unaffected and will continue.
  • The AMC may resume fresh subscriptions if SEBI/AMFI enhances limits or issues clarifications.

Regulatory Changes

This action is driven by SEBI/AMFI-mandated limits on overseas investments by Indian mutual funds. The AMC is suspending inflows to prevent breaching the prescribed overseas investment thresholds. No new regulatory rule has been introduced; this is an operational response to existing limits being reached.

Compliance Requirements

  • Distributors and Platforms: Must stop accepting fresh subscription instructions (lump sum, switch-in, new SIP/STP registrations) for the three affected schemes immediately from March 02, 2026.
  • AMC: Must continue processing existing systematic transaction instalments in compliance with respective scheme information documents.
  • Investors: New investments in these schemes are not permitted; existing portfolios and withdrawal instructions remain valid.

Important Dates

  • Effective Date of Discontinuation: March 02, 2026
  • Document Date: February 27, 2026
  • Notice Number: 010/02/2026

Impact Assessment

New investors and existing investors looking to increase exposure to the three affected schemes — particularly those with overseas equity or commodity themes — will be unable to do so until limits are relaxed. The affected schemes cover US equities (US Bluechip Equity Fund), Nasdaq 100 exposure (Nasdaq 100 Index Fund), and commodity/energy sectors via overseas funds (Strategic Metal and Energy Equity Fund of Funds). The restriction is medium impact as it limits capital inflows into these products but does not affect portfolio continuity for current investors. The AMC retains discretion to lift restrictions upon regulatory relief.

Impact Justification

Affects new investors in three specific ICICI Prudential schemes (overseas equity and commodity-linked) but does not disrupt existing investors or redemptions; driven by SEBI/AMFI overseas investment limit constraints.