Mirae Asset Global X Artificial Intelligence & Technology ETF FOF

[Arjun_Oberoi]

Currently, the above-mentioned international fund has been suspended by the Mutual Fund house* due to the reason mentioned in the other thread:

@Bhuvan

In the past 5 years, International mutual funds have become popular among retail investors. Up until 2016-17, we really didn’t have many options either, but in the last 2-3 years, we’ve seen several new global funds. But there are restrictions in terms of overseas investments. At an industry level, RBI has set the limit at $7 billion and this includes a $1 billion limit on overseas ETFs. At a fund level, SEBI had set a limit $1 billion for mutual funds and $300 million for overseas ETFs.

Given the popularity of international mutual funds, the mutual fund industry is close to hitting the limits and all international mutual funds and ETFs have imposed various restrictions. The industry and SEBI are working with RBI to enhance the limits, but there’s nothing definitive yet.

*Refer to the BSE circular here.

Once the restriction is lifted by AMC, the Buy/SIP option will become available on Coin.