ICICI Prudential Asset Management will stop accepting fresh subscriptions in three of its international funds from March 2, 2026 due to exhausted overseas investment limits. The three international funds that will discontinue all types of inflows are ICICI Prudential US Bluechip Equity Fund, ICICI Prudential Nasdaq 100 Index Fund, and ICICI Prudential Strategic Metal and Energy Equity Fund of Funds. As per The Hindu BusinessLine and Upstox, the fund house has issued a notice to investors regarding this temporary suspension of new investments in these international funds, with ICICI Prudential Trust approving the decision and applying to select overseas-focused schemes.
As reported by The Hindu BusinessLine and Upstox, the fund house said lump sum mode (including Switches), Systematic Investment Plan and/or Systematic Transfer Plan registration (where such schemes are target schemes), special products/features like Freedom SIP, SIP Top Up facility, Booster SIP, Flex STP, Booster STP, Capital Appreciation STP, and Transfer-in of Income Distribution cum Capital Withdrawal Plan will be discontinued. However, with respect to the existing systematic transactions, the AMC will continue processing the systematic transaction installments subject to compliance with the provisions specified in the SIDs of the aforesaid schemes and such other conditions as specified by SEBI/AMFI. Existing STP-Out and Systematic Withdrawal Plan (SWP) registrations for redemption or switch-out from these schemes will remain operational without disruption.
According to The Hindu BusinessLine, in 2022, SEBI restricted MFs from accepting fresh investments in overseas schemes due to size of these funds reaching close to industry-wide limit of $7 billion and $1 billion ETF-specific limit set by the RBI. In 2024, the inflows into foreign-focused ETS were also stopped. However, following the industry representation SEBI allowed to MFs to accept investment in overseas funds upto the headroom available with each fund house, now closing in on the available headroom, ICICI Prudential MF has stopped fresh inflows in its US-focussed funds. All other provisions of the Scheme Information Document (SAI) remain unchanged, with this notice forming an integral part of the SAI as amended from time to time.
As reported by The Hindu BusinessLine and Upstox, the AMC will resume acceptance of subscriptions in the three schemes in the event of availability of limits or enhancements of limits or issuance of any clarification by SEBI/AMFI. The fund house has issued a notice to investors regarding this temporary suspension of new investments in these international funds, with the AMC also clarifying that subscriptions may resume in the future if overseas investment limits are enhanced, fresh limits become available, or regulatory clarifications are issued by SEBI or AMFI.