Description

ICICI Prudential AMC has discontinued fresh subscriptions (lump sum, switches), SIP and STP registrations for three overseas/thematic fund schemes effective March 2, 2026, due to regulatory limits.

Summary

ICICI Prudential Asset Management Company Limited has issued a Notice-cum-Addendum discontinuing fresh subscriptions through lump sum mode (including switches), SIP registrations, and STP registrations (where these schemes are target schemes) in three schemes effective March 2, 2026. The discontinuation also covers special products such as Freedom SIP, SIP Top Up, Booster SIP, Flex STP, Booster STP, Capital Appreciation STP, and Transfer-in of IDCW. The move is attributed to overseas investment limits under SEBI/AMFI regulations.

Key Points

  • Fresh subscriptions via lump sum, SIP, and STP registrations are discontinued in three schemes from March 2, 2026
  • Special SIP/STP features (Freedom SIP, Booster SIP, Flex STP, Booster STP, Capital Appreciation STP, SIP Top Up, Transfer-in IDCW) are also discontinued
  • Existing systematic transaction instalments will continue to be processed subject to scheme information document provisions
  • Redemptions, switch-outs, existing STP-Out, and SWP from the affected schemes remain unaffected and will continue
  • The AMC may resume subscriptions if overseas investment limits become available or SEBI/AMFI issues relevant clarifications

Regulatory Changes

The discontinuation is necessitated by overseas investment limit constraints governed by SEBI and AMFI. The circular serves as an addendum to the Scheme Information Documents (SIDs) and Key Information Memorandums (KIMs) of the affected schemes and forms an integral part of the Statement of Additional Information (SAI).

Compliance Requirements

  • Distributors and platforms must halt acceptance of fresh subscriptions (lump sum, SIP, STP) in the three affected schemes effective March 2, 2026
  • Existing systematic transaction processing may continue in compliance with respective SID provisions
  • Investors should note that no new registrations for special products (Freedom SIP, Booster SIP, Flex STP, etc.) will be accepted in these schemes
  • All other SAI terms and conditions remain unchanged

Important Dates

  • Circular Date: February 27, 2026
  • Effective Date of Discontinuation: March 2, 2026
  • Resumption: Indeterminate — subject to availability or enhancement of overseas investment limits, or SEBI/AMFI clarification

Impact Assessment

Affected Schemes:

  1. ICICI Prudential US Bluechip Equity Fund
  2. ICICI Prudential Nasdaq 100 Index Fund
  3. ICICI Prudential Strategic Metal and Energy Equity Fund of Funds

All three are overseas/international or commodity-linked fund-of-fund schemes, subject to SEBI’s aggregate overseas investment limits for the mutual fund industry. Existing investors with active SIPs or STPs into these schemes will continue to have their instalments processed. New investors and those wishing to make fresh lump sum investments or register new systematic plans will be unable to do so until limits are restored. Redemptions and switch-outs are unaffected, ensuring investor liquidity is preserved.

Impact Justification

Affects three specific ICICI Prudential mutual fund schemes by halting fresh inflows; existing investors and SWP/switch-out transactions are unaffected. Impact is limited to new investors or those planning fresh SIP/STP registrations in these schemes.