HDFC Mutual Fund restricts large investments in HDFC Gold ETF and FOF. Here's all you need to know

The HDFC Mutual Fund has also become the first AMC to announce any such restrictions. Here are the key details of the decision that all small investors should know.

What are the restrictions?

• In HDFC Gold ETF, the AMC will not accept subscription transactions from large investors investing a minimum of ₹25 crore directly with the AMC.

This restriction will apply from June 8, 2026.

"Subscription transactions by Large investors directly with HDFC Mutual Fund (i.e. investing a minimum ₹25 crore) shall not be accepted with effect from June 8, 2026," the AMC said in an addendum dated June 4, 2026, Thursday.

• In HDFC Gold ETF Fund of Fund (FOF), the AMC will not process any transactions above ₹10 lakh per PAN per month after 3 pm on June 5, 2025.

"Lumpsum purchases /switch-ins into the FOF shall be processed only upto a limit of ₹10 lakh per PAN per calendar month (at first holder level). This limit shall apply in respect of transactions received after cut-off time (3:00 PM) on June 5, 2026," the AMC said.

Are there any changes for small investors?

No. There is no change for small investors. They can continue to invest in both schemes, provided their contribution to the HDFC Gold ETF FOF is under ₹10 lakh per PAN per month.

In the HDFC Gold ETF, only investments by large investors have been restricted.

Why has HDFC Mutual Fund taken this decision?

According to the addendum, the HDFC Mutual Fund has taken this decision in view of the broader economic and market conditions, which have been volatile amid concerns over oil prices and resultant inflation since the start of the Iran war.

"In light of the broader economic and market conditions, it has been decided to temporarily restrict lumpsum subscriptions in HDFC Gold ETF and HDFC Gold ETF Fund of Fund until further notice...." the AMC said.