MUTUAL FUNDS
HDFC AMC announces temporary suspension of subscriptions in Schemes
Mar-28-2024

HDFC Asset Management Company (AMC) has announced addendum to the Scheme Information Document (SID) / Key Information Memorandum (KIM) of HDFC Developed World Indexes Fund of Funds.

HDFC Mutual Fund has informed that, as per SEBI communication dated March 19, 2024, in order to avoid breach of mutual fund industry-wide limits for overseas Exchange Traded Funds (‘ETFs’), mutual funds in India have been advised to stop subscriptions in Schemes intending to invest in overseas ETFs. Accordingly, as per AMFI Advisory dated March 20, 2024, the following transactions under the Scheme shall stand suspended until further notice:

1. Subscriptions [including by way of lumpsum, Switch-ins], shall not be accepted in HDFC Developed World Indexes Fund of Funds (‘the Scheme’) with effect from March 28, 2024 after cut-off timing i.e. 3.00 pm.

2. New Registrations of Systematic Investment Plan (SIP) / Systematic Transfer Plan (STP) / Transfer of IDCW Plan (TIP), etc. shall not be accepted in the Scheme with effect from April 1, 2024. 

3. Existing installments of Systematic Transactions such as SIP/ STP/ TIP etc. into the Scheme shall be paused with effect from April 1, 2024.

4. Redemptions, Switch-out, Registration of fresh Systematic Withdrawal Plan (SWAP), Existing instalments of SWAP, and STP-out from the Scheme, intra sc shall continue to be processed. 

5. Intra-Scheme switches (viz. Regular Plan to Direct Plan and vice versa) and Intra-Plan switches (viz. Growth Option to IDCW Option and vice versa) shall continue to be accepted.

This addendum shall form an integral part of the Scheme Information Document / Key Information Memorandum of the Scheme as amended from time to time.


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