Four gold fund-of-funds have stopped accepting fresh subscriptions from October 16, 2026. Notices issued a day earlier by ICICI Prudential, Tata, DSP and Zerodha limit new purchases and investment-plan registrations, while allowing existing systematic payments to continue within each scheme’s rules.
The Breakdown
The affected schemes are ICICI Prudential Gold ETF FOF, Tata Gold ETF Fund of Fund, DSP Gold ETF Fund of Fund and Zerodha Gold ETF FoF. This is a review of those four notices, rather than an exhaustive list of affected funds.
ICICI Prudential has stopped fresh subscriptions, including lump-sum purchases, switches into the scheme and new SIP and STP registrations. Existing instalments continue subject to scheme terms, but top-ups to existing SIPs and incoming STPs will not be processed.
Tata has restricted fresh and additional lump-sum purchases, switches into the scheme, top-ups and new SIP or STP registrations. Instalments under plans registered before October 16 continue at the applicable net asset value, or NAV.
DSP has restricted lump-sum purchases, switches in and fresh SIP and incoming STP registrations, including modifications of existing SIPs with a top-up facility. Applications received by 3 p.m. IST on October 15 will be processed; later applications may be rejected and refunded. Existing systematic transactions registered by October 15 continue.
DSP and ICICI Prudential also restrict fresh registrations for transfers of Income Distribution cum Capital Withdrawal, or IDCW, payouts into these schemes.
Zerodha has stopped fresh and additional lump-sum purchases, switches in and new SIP or incoming STP registrations. Existing SIPs continue without step-ups, and previously registered STPs continue under the scheme’s normal terms.
What changes for existing investors?
A SIP is a plan for regular investments. An STP regularly transfers money from one scheme to another. The notices distinguish a new registration or an increased payment from an instalment under an existing plan.
Withdrawals have their own rules. Tata explicitly permits redemptions, switches out and existing systematic withdrawal plans, or SWPs. Zerodha permits redemptions, switches out, and both registration and processing of SWPs. DSP and ICICI Prudential do not separately discuss redemptions in these notices; they say other scheme provisions remain unchanged.
Update, October 16: three more fund houses
Further notices dated October 15 extend the picture beyond the four schemes reviewed above. They cover Kotak, Groww and Invesco, with differences in the start times and treatment of existing plans.
Kotak has suspended fresh and additional lump-sum purchases, switches in and new SIP or incoming STP registrations in Kotak Gold Fund and Kotak Gold Silver Passive FOF from October 16. Step-ups in existing SIPs are also suspended. Instalments under plans registered before October 16 continue. Purchases and switch-ins timestamped by 3 p.m. IST on October 15 will be processed.
Groww Gold ETF FoF has stopped fresh SIP and lump-sum subscriptions and switches in from October 16. Applications received through October 15 will be processed. Its notice leaves existing SIP and STP facilities unaffected and explicitly permits redemptions, systematic withdrawals, switches out and outgoing STPs under scheme terms.
Invesco India Gold ETF Fund of Fund imposed its restrictions at the close of business on October 15. It has suspended lump-sum purchases, switches in and new SIP registrations, along with new STP and IDCW transfer registrations into the scheme. Existing plans continue, but SIP top-up increases are suspended. If subscriptions reopen, the SIP base remains the amount at the effective date, excluding increases that would have fallen during the pause. Redemptions, switches out, transfers between the scheme’s plans or options, and new and existing SWPs remain available.
All three notices describe their restrictions as temporary and give no reopening date. Kotak does not separately discuss redemptions in its notice; other scheme terms remain unchanged.
The Big Picture
A gold fund-of-funds invests in units of a gold exchange-traded fund. It is a separate scheme from the underlying ETF. The notices reviewed here concern named fund-of-funds, including Kotak’s gold-silver FoF; they do not announce a suspension of exchange trading in gold ETFs.
None of the four notices explains the reason for the restrictions or gives a reopening date. Tata, DSP and Zerodha describe their restrictions as lasting until further notice. ICICI Prudential says fresh subscriptions are discontinued, without setting an end date.
The Crunch
The restrictions change how new money can enter the named funds. Existing plans and withdrawals follow each notice’s terms. The exact scheme and transaction type matter more than a broad headline about gold funds closing.