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The limit to facilitate international investment by mutual funds has been exhausted completely.
SEBI has directed fund houses through AMFI not to offer fresh subscription of overseas ETFs from April 1, 2024, said two people aware of the development.
In January 2022, SEBI restricted mutual funds from accepting new investment in their international funds, except for those that invest in overseas ETFs. The restrictions were a result of the industry breaching the overall foreign investment limit of $7 billion. However, FoFs based on global ETFs had remained open till now for investment as they had a separate investment limit of $ 1 billion.
However, this limit is also exhausted, said the officials.
