Invesco Mutual Fund reopens 3 international schemes for existing SIPs

Invesco Mutual Fund will reopen select existing systematic investment plan (SIP) and systematic transfer plan (STP) transactions in three overseas fund-of-funds from 18 August. The move comes as Indian mutual funds remain constrained by industry-wide and house-specific limits on overseas investments. The reopening applies to Invesco Global Equity Income Fund of Fund, Invesco Pan European Equity Fund of Fund, and Invesco Global Consumer Trends Fund of Fund. However, the fund house is not accepting new SIP registrations, lump-sum investments, or switch-ins.

According to Value Research, the number of international schemes where existing SIPs have been frozen has risen from 19 to 28 after PGIM and Edelweiss tightened restrictions. PGIM stopped its three international funds from 8 August, and Edelweiss shut six schemes from 12 August. Invesco has cautioned that the transactions could be suspended again if the fund house approaches its overseas investment limit again, so investors should not assume a permanent return to normal operations.