ICICI Prudential Midcap Fund removes ₹2 lakh monthly SIP cap from July 16; lump sum restriction stays

ICICI Prudential Mutual Fund has relaxed investment restrictions in its Midcap Fund by removing the ₹2 lakh per PAN monthly limit on fresh Systematic Investment Plan (SIP) registrations and other systematic investment facilities. The revised rules will come into effect from July 16, 2026.

The change covers fresh registrations under SIP, STP and several other systematic investment facilities, including Freedom SIP, SIP Top Up Facility, Booster SIP, Flex STP, Booster STP, Capital Appreciation STP, Transfer-in of Income Distribution cum Capital Withdrawal Plan (IDCW) and Trigger Facility.

However, the fund house has clarified that restrictions on lump sum investments remain unchanged. According to the addendum, "The existing restriction on fresh/additional purchases through lump sum mode and switch-ins into the Scheme from any other schemes of ICICI Prudential Mutual Fund shall continue till further notice."

Apart from this change, all other terms governing the scheme remain the same. The AMC said, "All the other provisions of the SID and KIM of the Scheme except as specifically mentioned herein above remain unchanged." It further added that the notice-cum-addendum "forms an integral part of the SID and KIM of the Scheme, as amended from time to time."

The move gives investors greater flexibility to start or increase investments through SIPs and other systematic routes, while restrictions on fresh lump sum investments into the scheme continue.