PGIM India MF revises subscription limits for overseas fund schemes; new SIP cap set at ₹50,000

PGIM India Mutual Fund has revised subscription limits for three of its overseas-focused fund schemes, capping fresh Systematic Investment Plan (SIP) registrations at ₹50,000 per day per investor per scheme from June 5, 2026, amid regulatory limits on overseas investments.

The move applies to PGIM India Global Equity Opportunities Fund of Fund, PGIM India Emerging Markets Equity Fund of Fund, and PGIM India Global Select Real Estate Securities Fund of Fund, collectively referred to as the designated schemes.

The asset management company (AMC) said the revision follows SEBI's framework that allows mutual funds to accept subscriptions and invest in overseas securities and funds only within the available headroom under industry-wide overseas investment limits.

Under the revised rules, fresh SIP registrations in the designated schemes will be accepted up to a maximum of ₹50,000 per day, per investor, per scheme, at the primary holder PAN level, provided the applications are received before the applicable cut-off time on a business day.

The AMC has also decided to stop accepting fresh Systematic Transfer Plans (STPs) into these schemes after the cut-off time on June 4, 2026. Investors will therefore not be able to initiate new transfer plans into the designated overseas funds after the specified deadline.

However, existing investors have been provided continuity. PGIM India clarified that instalments under SIPs and STPs that were already registered as of June 4, 2026, will continue without any changes.

The latest revision comes a few months after the fund house temporarily suspended subscriptions in the overseas schemes and later reopened them under specified conditions. The AMC referred to its earlier notices issued in March and May 2026 regarding the temporary suspension and subsequent reopening of subscriptions.

Overseas mutual fund schemes across the industry have been operating under regulatory restrictions since the sector approached the limits prescribed for overseas investments. Asset managers have periodically adjusted subscription rules to ensure compliance with SEBI's investment caps while continuing to offer international diversification opportunities to investors.

PGIM India said all other terms and conditions of the Scheme Information Documents (SIDs) and Key Information Memorandums (KIMs) of the affected schemes will remain unchanged. The revised subscription limits will come into effect from June 5, 2026.