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According to a communication issued by the AMC, the restrictions have been lifted only from lumpsum and switch-in investments. "Motilal Oswal AMC is continuing with the restriction on systematic investment options such as SIP, STP," the fund house said.
Motilal Oswal AMC along with other fund houses had suspended fresh investments in their international schemes in January 2022 after the Securities and Exchange Board of India (Sebi) advised mutual funds to stop further investments in foreign stocks to avoid breach of industry-wide overseas limits.
According to Sebi, the mutual funds can make overseas investments up to $7 billion. The restrictions came into force after the industry came close to breaching this limit in January.
In June, Sebi lifted the restriction on mutual fund investments in foreign stocks, opening the path for mutual funds to re-open their international schemes for subscription. However, the regulator imposed a condition that fund houses can only invest up to the available headroom without breaching the overseas investment limits utilised as on February 1.
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First Published: Tue, November 22 2022. 21:02 IST