ICICI Prudential Mutual Fund is the first one to discontinue subscription after Sebiís letter to AMFI to frame a policy to protect the interest of investors investing in mid and smallcap mutual fund schemes. Meanwhile, the fund house became the 5th one to join the list of fund houses that have restricted subscriptions in smallcap schemes so far.
The other fund houses to limit/discontinue subscriptions in smallcap schemes are Kotak Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund and Tata Mutual Fund.
1.ICICI Prudentials Small Cap and Midcap Funds ICICI Prudential Mutual Fund has temporarily discontinued subscriptions in ICICI Prudential Midcap Fund and ICICI Prudential Smallcap Fund. The fund house informed that to keep the interest of the investors protected from sudden market movements, the Trustees have decided to temporarily discontinue subscriptions in the schemes. This will be effective from March 14.