HDFC and Axis Mutual Fund resume subscriptions in gold ETFs and gold ETF FoFs

Sat Aug 22 2026

HDFC and Axis Mutual Fund have resumed unrestricted subscriptions in their respective gold ETFs, gold funds and gold ETF FoFs after Tata Mutual Fund and Aditya Birla Sun Life Mutual Fund also announced the resumption of subscriptions in their gold-based funds. Restrictions imposed amid strong inflows and physical gold supply constraints are being lifted as market conditions normalize, allowing investors greater access to gold-linked mutual fund schemes.

Axis Mutual Fund announced that it has decided to withdraw the temporary restrictions on lump-sum subscriptions in the gold ETF and gold fund.

HDFC Mutual Fund announced that, following the temporary restrictions on lump-sum subscriptions in HDFC Gold ETF and HDFC Gold ETF Fund of Fund, it has now decided to resume subscriptions in the HDFC Gold ETF Fund of Fund with effect from August 14.

The scheme will resume accepting subscriptions through lump-sum purchases and switch-ins without any restriction.

Similarly, Axis Mutual Fund announced that it has decided to withdraw the temporary restrictions on lump-sum subscriptions in the gold ETF and gold fund. In Axis Gold ETF, subscription transactions by large investors for an amount exceeding Rs 25 crore directly with Axis Mutual Fund will be accepted with effect from August 18, 2026.

In Axis Gold Fund, lump-sum subscriptions and switch-ins in the scheme, without any restrictions, will be accepted with effect from August 18, 2026.

On Friday, Tata Mutual Fund announced that it had resumed Tata Gold ETF subscriptions for large investors investing Rs 25 crore and above. It also removed investment limits on lump-sum purchases and switch-ins to the Tata Gold ETF FOF. The changes are effective from August 21 and will remain in force until further notice.

Aditya Birla Sun Life Mutual Fund decided to recommence the acceptance of fresh lump-sum subscriptions and switch-in applications in Aditya Birla Sun Life Gold Fund without restriction, effective August 13, 2026.

The fund houses said the change was decided in view of the normalization of market conditions.

Earlier in June 2026, several mutual fund houses temporarily halted subscriptions to gold-linked schemes to manage large capital inflows. HDFC Mutual Fund imposed restrictions on June 4, followed by Axis Mutual Fund on June 5 and June 10, while Tata Mutual Fund introduced restrictions from June 8.

The move came amid heightened demand for Gold ETFs after the government raised the import duty on physical gold as part of efforts to address the trade deficit. The surge in demand put pressure on fund houses to source physical gold to back new ETF units, while the supply chain remained constrained.

To manage these institutional inflows, fund houses temporarily capped large direct investments and retail lump-sum purchases in their gold-linked schemes.

Source: https://economictimes.indiatimes.com