Edelweiss Mutual Fund has decided to revoke the limit on subscriptions in Edelweiss Recently Listed IPO Fund, which invests in recently listed companies or companies foraying into capital markets via an initial public offering.

The fund house, since February 2022, had limited the fresh inflows by way of lump sum/additional purchases under the scheme to Rs 1 lakh per day per PAN. In the case of a systematic investment plan (SIP), the limit of Rs 1 lakh was applicable per month. Switch-ins and systematic transfer plans (STPs) were also covered under the limit. The SIP/STP limits were only for the mandates received before 31 January 2022. With the removal of the subscription limit, there is no cap on the investments into the fund either through SIP or lump sum amount, with effect from 1 April 2022.

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According to the fund house, “equity markets have corrected. Specifically, some quality businesses in the recently listed IPO universe have seen a meaningful correction and are now available at attractive valuations. The liquidity profile of the portfolio is also comfortable now. Hence, we have decided to remove the limit on subscriptions which will allow investors to take benefit of this correction and build positions in the fund for the long-term.”