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Indian regulator asks fund managers to stop investing in overseas ETFs

Reuters · 1y

India's market regulator, the Securities and Exchange Board of India (SEBI), has instructed asset managers to halt inflows into schemes that invest in overseas exchange-traded funds (ETFs) from April 1. The directive comes as Indian mutual funds are nearing the $1 billion limit set by India on overseas ETF investments. The reason for the directive was not disclosed. The Association of Mutual Funds in India (AMFI) sent out an email notifying asset managers of the decision. Neither SEBI nor AMFI have provided further comments or clarification on the matter.