Description

NSE revokes temporary suspension and enables lumpsum purchases up to INR 2 crore per day per PAN for three PGIM India global fund of fund schemes effective December 08, 2025.

Summary

NSE has revoked the temporary suspension on subscriptions for three PGIM India Mutual Fund schemes, allowing lumpsum purchases up to INR 2,00,00,000 per day per investor per scheme (at Primary holder PAN level) effective December 08, 2025. This follows SEBI’s June 2022 permission allowing mutual funds to accept subscriptions within available headroom under overseas investment limits as of February 1, 2022.

Key Points

  • Three PGIM India fund of fund schemes reopened for subscriptions: Global Equity Opportunities Fund of Fund, Emerging Markets Equity Fund of Fund, and Global Select Real Estate Securities Fund of Fund
  • Lumpsum purchase limit: Maximum INR 2 crore per day per investor per scheme (at Primary holder PAN level)
  • Transactions must be received before cut-off time on any business day
  • No fresh SIP/STP registrations or switch-ins allowed
  • Existing registered SIPs/STPs in these schemes will continue
  • Changes effective from December 08, 2025

Regulatory Changes

SEBI vide letter no. SEBI/HO/OW/IMD-II/DoF3/P/25095/2022 dated June 17, 2022 permitted mutual funds to accept subscriptions and invest in overseas funds/securities up to the headroom available without breaching the overseas investment limits as of end of day February 1, 2022 at mutual fund level. Based on this regulatory framework, PGIM India Asset Management has reopened these designated schemes with specified transaction limits.

Compliance Requirements

  • Members must note the reopening of subscriptions in the three designated schemes
  • Transaction limits must be enforced: Maximum INR 2,00,00,000 per day per investor per scheme at Primary holder PAN level
  • Only lumpsum purchases allowed; no fresh SIP/STP registrations or switch-ins permitted
  • Existing SIP/STP registrations must continue as per original terms
  • Unit holders are requested to update PAN, KYC, email address, mobile number, and nominee details with AMC
  • Unit holders advised to link PAN with Aadhaar Number

Important Dates

  • December 05, 2025: Circular issued by NSE
  • December 08, 2025: Effective date for reopening of subscriptions in the three designated PGIM India fund of fund schemes
  • December 04, 2025: Notice cum addendum issued by PGIM India Asset Management

Impact Assessment

Market Impact: Minimal. This circular affects only three specific fund of fund schemes focused on global/overseas investments and does not impact broader equity or debt markets.

Investor Impact: Positive for investors interested in these global/emerging market schemes, as they can now make lumpsum investments up to INR 2 crore per day. However, the restriction on fresh SIP/STP registrations limits systematic investment options for new investors.

Operational Impact: Limited operational changes required as this primarily involves enabling previously suspended subscription channels with specified daily limits. The continuation of existing SIPs/STPs ensures no disruption for current systematic investors.

Regulatory Context: Reflects ongoing management of overseas investment limits by mutual funds under SEBI guidelines, specifically the headroom available as of February 1, 2022. The phased reopening with transaction limits demonstrates controlled approach to managing foreign investment exposure.

Impact Justification

Operational circular affecting only three specific mutual fund schemes with limited daily transaction caps; impacts retail investors in these schemes but has no broader market implications