Description

NSE informs members that PGIM Mutual Fund has increased the maximum SIP/STP amount to INR 2,00,000 per investor and resumed fresh registrations for three designated overseas fund-of-fund schemes effective May 18, 2026.

Summary

NSE has informed its members that PGIM Mutual Fund is making two key changes on the NSE MF Invest Platform effective May 18, 2026: (1) increasing the maximum SIP and STP amount to INR 2,00,000 per investor (at primary holder PAN level) per day per scheme, and (2) resuming fresh SIP and STP registrations for three designated overseas fund-of-fund schemes that had been temporarily suspended since March 9, 2026.

Key Points

  • Maximum SIP/STP limit increased to INR 2,00,000 per investor per day per scheme (at primary holder PAN level)
  • Fresh SIP and STP registrations resumed for three PGIM India overseas fund-of-fund schemes
  • Changes effective May 18, 2026 on the NSE MF Invest Platform
  • Resumption is permitted under SEBI’s framework allowing investments in overseas funds/securities up to available headroom without breaching overseas investment limits (as of EOD February 1, 2022 at Mutual Fund level)
  • Circular Ref. No: NSE/NMFTM/74252 | 1375/2026

Regulatory Changes

SEBI vide letter no. SEBI/HO/OW/IMD-II/DoF3/P/25095/2022 dated June 17, 2022 permits mutual funds to accept subscriptions and invest in overseas funds/securities up to the headroom available without breaching overseas investment limits. Acting on this, PGIM India AMC has decided to allow subscriptions in the Designated Schemes from May 18, 2026, subject to the revised maximum SIP/STP limit of INR 2,00,000 per investor per day per scheme.

Compliance Requirements

  • NSE members operating on the NSE MF Invest Platform must update their systems to reflect the revised SIP/STP maximum limit of INR 2,00,000 for the three designated PGIM India schemes
  • Only Fresh SIP/STP registrations are covered; all other terms and conditions of the SIDs and KIMs of the Designated Schemes remain unchanged
  • Transactions must be received before the applicable cut-off time on any business day
  • Unit holders are advised to update their PAN, KYC, email address, mobile number, and nominee details with the AMC

Important Dates

  • May 15, 2026: Circular issued by NSE and PGIM India AMC
  • May 18, 2026: Effective date for resumption of fresh SIP/STP registrations and applicability of the revised maximum limit of INR 2,00,000
  • March 9, 2026: Date of previous Notice Cum Addendum suspending subscriptions in the Designated Schemes

Impact Assessment

This circular has a medium operational impact on NSE MF Invest platform members and investors. The three affected schemes — PGIM India Global Equity Opportunities Fund of Fund, PGIM India Emerging Markets Equity Fund of Fund, and PGIM India Global Select Real Estate Securities Fund of Fund — are overseas-focused funds-of-funds that had their fresh subscriptions suspended since March 2026. The resumption expands investor access to global equity and real estate markets through PGIM India’s international mandates. The revised INR 2,00,000 per day SIP/STP cap per scheme provides meaningful investment capacity while staying within SEBI’s overseas investment headroom limits. Platform members should ensure timely system updates before May 18, 2026 to avoid any processing issues for incoming registration requests.

Impact Justification

Operationally relevant for NSE MF Invest platform members and investors in three PGIM India overseas FOF schemes; affects SIP/STP registration limits and resumption of previously suspended subscriptions, but is limited in scope to specific fund schemes.