Motilal Oswal Mutual Fund to open international funds for subscription from January, 2023

Motilal Oswal Mutual Fund has announced that it will withdraw the temporary suspension of subscriptions in its five international funds from January 1, 2023. The AMC had issued an addendum dated November 22, 2022 allowing investments up to Rs 2,00,000 per PAN, per calendar month in each of the schemes and continued with the restrictions for the systematic investment options such as SIP, STP, etc. All these restrictions will be lifted from January, 2023.

The AMC also said that in the event of complete exhaustion of the available headroom that is being utilized at present to resume overseas investments, all the subscriptions and investments might be paused again.

The five schemes that will be open for subscription from January 1 are:

• Motilal Oswal S&P 500 Index Fund
• Motilal Oswal NASDAQ 100 ETF
• Motilal Oswal NASDAQ 100 Fund of Fund
• Motilal Oswal MSCI EAFE Top 100 Select Index Fund
• Motilal Oswal NASDAQ Q 50 ETF

The Association of Mutual Funds in India had released a circular on June 20, 2022 notifying that mutual fund schemes may resume subscriptions and make investments in overseas funds /securities up to the headroom available without breaching the overseas investment limits as on February 01, 2022.

The headroom was created because of a sharp fall in international stock markets which led to decline in valuations of international stocks.

The mutual fund house has said that they will accept investments without any amount-wise restrictions through lumpsum and switch-ins with effect from January 01, 2023.

All the existing systematic options such as SIPs, STPs etc. under the designated schemes, being paused earlier, will also be resumed. Also, the investors will be able to register fresh SIPs, STPs effective from January 01, 2023 till further notice.