SBI Mutual Fund suspends fresh subscription in its international fund

SBI Mutual Fund has suspended fresh subscriptions to one of its international funds. The fund house announced that subscriptions to the SBI International Access - US Equity Fund of Funds (FoF) will be temporarily halted to avoid exceeding the industry-wide overseas investment limit set by the RBI.

The fund house notified its unitholders about this change through a notice and addendum. The notice stated that subscriptions through lump sum investments (including additional purchases and switch-ins), as well as fresh registrations for systematic investment plans (SIPs) and systematic transfer plans (STPs) for the transfer of income distribution cum capital withdrawal (IDCW), will be discontinued effective December 27. In other words, this suspension will take effect after the cut-off time on December 26.​