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Two fund houses – Edelweiss Mutual Fund and Mirae Asset Mutual Fund have reopened subscription in their international passive funds. All these schemes will reopen for subscription on March 27.
Edelweiss MF has reopened lumpsum subscription/switch-in transactions in seven international funds - Edelweiss ASEAN Equity Off-shore Fund, Edelweiss Greater China Equity Off-shore Fund, Edelweiss US Technology Equity Fund of Fund, Edelweiss Emerging Markets Opportunities Equity Offshore Fund, Edelweiss Europe Dynamic Equity Offshore Fund, Edelweiss US Value Equity Off-shore Fund, and Edelweiss MSCI India Domestic & World Healthcare 45 Index Fund.
Likewise, Mirae Asset MF has also announced the resumption of subscription in six overseas funds - Mirae Asset NYSE FANG+ ETF Fund of Fund, Mirae Asset S&P 500 Top 50 ETF Fund of Fund, Mirae Asset Hang Seng TECH ETF Fund of Fund, Mirae Asset NYSE FANG+ ETF, Mirae Asset S&P 500 Top 50 ETF and Mirae Asset Hang Seng TECH ETF.
“The existing SIPs and STPs will reopen from March 29 onwards. Fresh SIPs and STPs will not be allowed”, said Siddharth Srivastava, Head - ETF Product & Fund Manager, Mirae Asset MF.
He added, “In the case of ETFs, investors can transact on exchange in any quantity or in multiple of basket size with the AMC directly. In the case of FOFs, investors can use multiple avenues like lumpsum or switch-ins to take exposure in the underlying ETFs.”
