Legally, societies are now allowed to invest in equity funds of mutual funds and exchange trade funds.
Can a society invest in mutual fund?
After the recent amendment to the Indian Trust Act in 2017, co-operative societies can invest in specified mutual funds.
Can foreigners invest in mutual funds?
NRIs are allowed to invest in mutual funds in India – as long as they adhere to the rules of the Foreign Exchange Management Act (FEMA). However, some AMCs do not accept mutual fund applications from NRIs in Canada and the USA.
