AMCS open subscription for global schemes
- New Delhi: Several asset managements. companies (AMCs) have opened up subscription for international schemes to maximize inflows ahead of new taxation rules for debt mutual funds kicking in from April 1.
- The fund houses that resumed their international schemes are Franklin Templeton Mutual Fund, Mirae Asset Mutual Fund and Edelweiss Mutual Fund.
- Edelweiss Mutual has opened its all seven international funds for subscription from this Monday. It has start- ed accepting switch-in or lumpsum transactions in these schemes.
- "We had some limits, so we thought of letting investors take benefit of taxation by investing before March 31," Niranjan Awasthi, Head-Product, Marketing and Digital Business at Edelweiss AMC told PTI.
- Mirae Asset has opened subscription in a lump sum manner for three international ETFs and three Fund of Fund (FoF) based on these ETFS from March 27 onwards.
- The existing Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP) will reopen from March 29 onwards. However, fresh SIP and STP will not be allowed.