Description
NSE informs members of a restriction on maximum investment amount under Systematic Transfer Plans (STP) across all frequencies for certain PGIM Mutual Fund schemes, effective March 01, 2026, along with enabling Daily, Weekly and Quarterly STP frequencies.
Summary
NSE has informed its members about changes to the Systematic Transfer Plan (STP) facility for certain overseas Fund of Fund schemes of PGIM India Mutual Fund on the NSE MF Invest Platform. Effective March 01, 2026, a maximum investment cap of INR 5,00,000 per day per investor per scheme is introduced, and Daily, Weekly and Quarterly STP frequencies are enabled in addition to the previously available Monthly frequency.
Key Points
- Maximum STP/Switch-in/Lumpsum transaction amount capped at INR 5,00,000 per day, per investor, per scheme (at Primary holder PAN level)
- Daily, Weekly and Quarterly STP frequencies enabled in addition to existing Monthly frequency
- Change effective from March 01, 2026 on NSE MF Invest Platform
- Circular reference: NSE/NMFTM/73033 | Circular Ref. No: 1235/2026
- Based on communication received from PGIM India Asset Management Private Limited dated February 27, 2026
Regulatory Changes
The change is driven by SEBI letter no. SEBI/HO/OW/IMD-II/DoF3/P/25095/2022 dated June 17, 2022, which permits Mutual Funds to accept subscriptions and invest in overseas funds/securities up to the headroom available without breaching overseas investment limits as of EOD February 1, 2022. PGIM India AMC is expanding STP frequencies and imposing a per-day cap to comply with these overseas investment restrictions.
Compliance Requirements
- NSE members facilitating transactions on NSE MF Invest Platform must ensure the INR 5,00,000 per day per investor per scheme cap is enforced for the designated schemes
- Investors should update PAN, KYC, email address, mobile number and nominee details with the AMC
- Investors are advised to link PAN with Aadhaar Number
Important Dates
- February 27, 2026: PGIM India AMC Notice-cum-Addendum issued
- February 28, 2026: NSE circular issued to members
- March 01, 2026: Effective date for all changes
Impact Assessment
This change has a low market impact as it applies only to three specific overseas fund-of-fund schemes of PGIM India Mutual Fund. The INR 5,00,000 daily cap per investor restricts large inflows into overseas-focused schemes in line with SEBI’s overseas investment headroom constraints. Investors using Monthly STP in these schemes will benefit from additional frequency options (Daily, Weekly, Quarterly). NSE MF Invest Platform members need to ensure their systems reflect the updated transaction limits and frequency options by March 01, 2026.
Affected Schemes:
- PGIM India Global Equity Opportunities Fund of Fund
- PGIM India Emerging Markets Equity Fund of Fund
- PGIM India Global Select Real Estate Securities Fund of Fund
Impact Justification
Routine operational update affecting a limited set of PGIM overseas fund-of-fund schemes with a cap of INR 5 lakh per day per investor; no broad market or systemic impact.