Description

NSE informs members that HDFC Mutual Fund has increased the maximum SIP amount and resumed fresh STP registrations for HDFC Defence Fund under monthly frequency, capped at INR 25,000 per investor (first holder PAN level) effective May 04, 2026.

Summary

NSE has informed its members that HDFC Mutual Fund has issued an addendum to the Scheme Information Document (SID) / Key Information Memorandum (KIM) of HDFC Defence Fund. Effective May 04, 2026, the maximum amount for fresh SIP registrations has been increased, and fresh STP registrations have been resumed — both under monthly frequency only — up to INR 25,000 per investor at the first holder PAN level on the NSE MF Invest Platform.

Key Points

  • Fresh SIP registrations under HDFC Defence Fund are now permitted up to INR 25,000 per investor (first holder PAN level) under monthly frequency.
  • Fresh STP registrations are also resumed under monthly frequency, subject to the same INR 25,000 limit per investor.
  • The INR 25,000 limit applies separately to SIP and STP and is in addition to any existing/ongoing SIP or STP transactions by the investor.
  • Fresh lumpsum investments (including switch-ins) remain paused.
  • Existing systematic transactions will continue to be processed without interruption.
  • There are no restrictions on redemptions, switch-outs, or STP-outs.

Regulatory Changes

This circular implements a partial modification to the earlier addendum dated December 19, 2025, which had resumed SIP registrations in HDFC Defence Fund. The new addendum dated April 30, 2026 further increases the permissible SIP amount and additionally allows fresh STP registrations under the monthly frequency up to INR 25,000 per investor at first holder PAN level.

Compliance Requirements

  • NSE members operating on the NSE MF Invest Platform should update their systems to reflect the revised maximum SIP amount and the availability of fresh STP registrations for HDFC Defence Fund.
  • Members should ensure that the INR 25,000 cap per investor (PAN level) is enforced separately for SIP and STP under the monthly frequency.
  • No action is required for existing/ongoing systematic transactions.

Important Dates

  • April 30, 2026: Date of the HDFC Mutual Fund addendum.
  • May 04, 2026: Effective date for the increased SIP limit and resumption of fresh STP registrations on NSE MF Invest Platform.

Impact Assessment

This change has a limited and targeted impact. It benefits investors in HDFC Defence Fund who wish to increase their monthly SIP contributions or initiate fresh STP registrations. The INR 25,000 monthly cap restricts large inflows, consistent with HDFC Mutual Fund’s cautious approach to managing this thematic fund’s AUM. Fresh lumpsum investments remain suspended, indicating continued capacity management for the fund. Overall market impact is minimal, as the change affects only one thematic scheme under one fund house.

Impact Justification

Routine mutual fund addendum affecting a single thematic fund scheme; limited to SIP/STP registration limits for a specific fund with fresh lumpsum investments still paused, impacting a narrow set of retail investors.