| Axis Mutual Fund has temporarily suspended fresh subscriptions in three of its international schemes, citing limits on overseas investments. In a notice dated 4 May 2026, Axis Asset Management Company said that lump sum investments, switch-ins and fresh registrations of systematic transactions in Axis Global Equity Alpha Fund of Fund, Axis Global Innovation Fund of Fund and Axis Greater China Equity Fund of Fund will be suspended with effect from 6 May 2026. Applications will not be accepted after 3:00 pm on 5 May 2026. The fund house clarified that redemptions, switch-outs and existing systematic transactions will continue. The suspension is temporary and will remain in force until further notice. The move is intended to avoid exhaustion of the available limits for overseas investments under prevailing regulatory norms. Under the framework outlined by the Securities and Exchange Board of India, the mutual fund industry's total overseas investment is capped at $7 billion, with a separate $1 billion limit for overseas exchange-traded funds. Separately, Ashish Gupta has ceased to be a key personnel of Axis Asset Management Company with effect from the close of business hours on 30 April 2026. Powered by Capital Market - Live News |