Dear MF Investors,
This is to inform that there have been some updates on invest limits in certain Mutual Funds schemes. Effective from the specified dates, there will be temporary caps on units subscriptions in the following funds:
| Schemes | Effective Date | Lump-Sum Monthly Limit | SIP Monthly Limit |
|---|---|---|---|
| Kotak Small Cap Fund | March 4, 2024 | ₹ 2,00,000 | ₹ 25,000 |
| ICICI Prudential Midcap Fund | March 14, 2024 | Temporarily Restricted | ₹ 2,00,000 |
| ICICI Prudential Smallcap Fund | March 14, 2024 | Temporarily Restricted | ₹ 2,00,000 |
| Franklin India Smaller Companies Fund | March 18, 2024 | ₹ 2,00,000 | ₹ 50,000 |
| Nippon India Small Cap Fund | March 22, 2024 | No Restriction | ₹ 50,000 |
*Please note limits are set per PAN/Month
Exceptions:
- SIP invesments made prior to the effective dates will remain unaffected. For any fresh installments, there will be a check on the overall fund limit for that scheme.
- Redemption policies remain unchanged.
- The AMC reserves the right to reject applications not meeting scheme requirements.
FAQs:
Q: Can I apply for numerous SIPs after the effective date?
A: Yes, you can submit several SIP applications note the total SIP investment amount is less than or equivalent to monthly limits.
Q: How will the latest subscription limit affect my existing SIP in Fund?
A: Existing SIPs registered prior to the effective date are not affected. The limitation applies to new subscriptions made after the effective date mentioned above.
Q: Can I set up numerous SIPs, say ₹ 25,000 on Dhan and ₹ 25,000 on another platform?
A: No, the total SIP amount across all platforms for the mentioned schemes cannot exceed the monthly limits.
Q: My SIPs are being denied because of the “maximum investment limit.” What will I do?
A: To address this issue, consider discontinuing SIPs that surpass monthly limits. Ensure that the total monthly SIP amount across all platforms remains under the set limit.
Q: Can I still redeem my units with no limits during this time?
A: Yes, there will be no effect on redemptions. Investors can continue to redeem their units without limitation.
Q: Funds were deducted, but the order was refused. When will I receive my refund?
A: If your order is denied, you will get a refund in your account within 7 business days.
Happy Investing,
Saurav Parui