BSE has issued a notice informing members of the temporary suspension of subscription transactions in three Axis Mutual Fund overseas fund-of-fund schemes on the BSE StAR MF platform, effective May 13, 2026. This follows a prior notice (20260506-3) and is based on a communication received from Axis AMC. The suspension covers lumpsum investments, switch-ins, and new systematic registrations, while redemptions and switch-outs remain open.

Key Points

• Lumpsum investments (fresh and additional purchases), switch-in transactions, and new SIP/XSIP and STP-in registrations have been disabled for the affected schemes on BSE StAR MF.
• Applications received after the applicable cut-off time on May 13, 2026 will not be accepted or processed.
• Existing Systematic Registrations (SIP/XSIP/STPAMC) are paused and will not be triggered until further notice.
• Redemption, Switch-out, STP-Out, and SWP transactions are still permitted.
• Subscription orders received after 3:00 PM on May 13, 2026, including orders triggered to the RTA, will be rejected and refunded once funds are received from AMC/RTA.

Affected Schemes

• Axis Global Equity Alpha Fund of Fund
• Axis Global Innovation Fund of Fund
• Axis Greater China Equity Fund of Fund

Regulatory Changes

BSE has implemented platform-level controls at Axis AMC’s request, disabling subscription-side transactions for the three affected overseas fund-of-fund schemes. This is an operational restriction rather than a regulatory mandate, but it has immediate and binding effect on all BSE StAR MF platform participants.

Compliance Requirements

• Members must not accept or process subscription orders (lumpsum, switch-in, new SIP/STP registrations) in the three affected Axis schemes.
• No new systematic registrations should be initiated for these schemes.
• Members should inform investors that existing SIP/XSIP/STPAMC registrations are paused and will not be processed until further notice.
• Any orders received post 3:00 PM on May 13, 2026 must be flagged for rejection and refund processing.

Important Dates

• May 13, 2026: Effective date of suspension; cut-off time for last accepted subscription orders.
• 3:00 PM, May 13, 2026: Deadline after which all subscription orders and RTA-triggered orders will be rejected and refunded.
• Duration of suspension is open-ended — no end date has been communicated.

Impact Assessment

Investors in the three Axis overseas fund-of-fund schemes cannot make new lumpsum investments or initiate new systematic plans via BSE StAR MF. Existing SIP/STP investors are particularly impacted as their scheduled installments are paused indefinitely. The suspension likely reflects constraints related to the overseas investment limits (SEBI’s overseas fund investment cap) that have previously affected multiple AMCs’ international funds. Redemption liquidity is preserved, limiting downside risk for existing investors. Members operating on BSE StAR MF should update their systems and communicate proactively with affected investors.