PGIM India Mutual Fund Reopens Subscription Period in Three Overseas Schemes

PGIM India Mutual Fund Reopens Subscriptions in Overseas Fund-of-Fund Schemes

PGIM India Mutual Fund has announced the reopening of subscriptions in three overseas fund-of-fund schemes from May 18, 2026, after temporarily suspending fresh inflows earlier this year due to overseas investment restrictions.

The fund house has lifted the restrictions on fresh subscriptions in the 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. Subscriptions will resume through fresh Systematic Investment Plans (SIPs) and Systematic Transfer Plans (STPs). However, investments will be capped at Rs 2 lakh per day per investor per scheme at the primary PAN level.

The fund house had suspended fresh subscriptions in these schemes on March 9, 2026, citing the need to remain within regulatory overseas investment limits. At the time, the restrictions covered lumpsum investments, switch-ins, and new SIP and STP registrations. Existing SIPs and redemptions continued uninterrupted.

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The Securities and Exchange Board of India (SEBI) permits mutual funds to accept subscriptions and invest overseas within the available headroom without breaching limits applicable as of February 1, 2022. The overseas investment cap has remained a challenge for the mutual fund industry since the Reserve Bank of India's industry-wide limit of $7 billion for overseas securities and a separate $1 billion limit for overseas exchange-traded funds were nearly exhausted.

Several fund houses, including Axis Mutual Fund and ICICI Prudential Asset Management Company, have imposed similar temporary restrictions on international schemes in recent months. PGIM India Mutual Fund had previously reopened these schemes in February 2026 with a higher investment cap of Rs 5 lakh per investor per day before reimposing restrictions in March amid tightening headroom for overseas allocations.