This comes after ICICI Pru AMC, Nippon India MF and HDFC AMC made these announcements. Moneycontrol has also exclusively reported that Kotak AMC and ABSL AMC are also in the process of announcing the same.

Two more major fund houses, Axis Mutual Fund and Tata Mutual Fund, have announced temporary restrictions on fresh subscriptions in their gold investment schemes. This comes after ICICI Pru AMC, Nippon India MF and HDFC AMC made these announcements.

AS per news, on June 6, had exclusively reported that India’s leading mutual fund players have moved to curb large lump-sum investments into gold exchange-traded funds following discussions with market regulator Sebi on measures that could help ease pressure on the rupee and reduce demand for imported gold. The issue was discussed at a meeting of top mutual fund chief executives with Sebi officials last week, where the regulator and industry executives explored whether any steps could be taken with respec…

Moneycontrol had also exclusively reported that Kotak AMC, Axis MF and ABSL AMC were also in the process of announcing the same

Axis Mutual Fund has imposed restrictions on subscriptions to its Axis Gold ETF and Axis Gold Fund. Under the revised rules, direct subscriptions by large investors exceeding Rs 25 crore in Axis Gold ETF will no longer be accepted from June 8, 2026, although transactions by market makers and authorized participants will continue. The fund house has also capped lump-sum subscriptions and switch-in transactions in Axis Gold Fund at less than Rs 10 lakh per PAN per month, with higher-value transact…

In a similar move, Tata Mutual Fund has temporarily suspended direct subscription transactions of Rs 25 crore and above in Tata Gold Exchange Traded Fund for large investors. Market makers and authorized participants, however, remain exempt from the restriction. The fund house has also limited lump-sum purchases and switch-ins into Tata Gold ETF Fund of Fund to Rs 10 lakh per PAN per calendar month. Transactions received after the 3:00 p.m. cut-off time on June 8 that exceed this threshold will …

Both fund houses have emphasized that the measures are temporary and will remain in force until further notice. Existing investors will continue to have access to redemption facilities, while Tata Mutual Fund has specifically stated that switch-outs and Systematic Withdrawal Plans (SWPs) will continue as normal.

The move comes amid growing concerns over India’s external account as higher crude oil prices and strong gold imports add to dollar demand.

On May 10, Prime Minister Narendra Modi urged citizens to defer gold purchases for a year to help conserve foreign exchange. “If possible, postpone the purchase of gold for one year,” Modi said, while also asking citizens to defer overseas vacations as part of a broader effort to reduce pressure on the country’s external account.

Disclaimer: Moneywealth research provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

SEBI registered research analyst

Stock market

Accurate intraday tips

Call or whatsapp: +91 9924987385 / +91 7096190322

www.moneywealth.co.in