Four asset management companies (AMCs) have restricted subscription in their respective gold ETFs and FoFs for an amount exceeding Rs 25 crores starting from June 5. The four AMCs include - HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mutual Fund and Nippon India Mutual Fund.
The fund houses are restricting large inflows into gold ETFs and FoFs that invest in such schemes, in line with the government's recent efforts to discourage excessive gold purchases, and AMCs cited broader economic and market conditions as the main reason for such a move.
