Only transactions timestamped on or before 3:00 PM on October 10 will be processed at the applicable NAV. All new lump sum and switch-in investments will be blocked after that, the fund house said.
This is the second suspension in the silver fund category within a week. Kotak Mutual Fund had earlier stopped fresh inflows into its silver ETF Fund of Fund, signalling growing caution among asset managers.
Silver prices have surged sharply this month. The white metal crossed $50 an ounce for the first time on October 9, briefly touching $51.30. In India, domestic prices jumped to ₹1.63 lakh per kg — up 72% since January. The rally has triggered a rush into silver ETFs, pushing several schemes to trade at steep premiums to their indicative NAVs.
UTI has kept automated investment routes open. Existing SIPs, STPs, SWPs and Flexi STPs will continue without disruption. New registrations under these plans will be allowed up to ₹5 lakh per day from October 13.
The restriction will not apply to systematic plans registered before the suspension date. Redemptions and switch-outs will remain fully operational.
No other terms or conditions of the scheme have been changed. The addendum now forms part of the Scheme Information Document (SID) and Key Information Memorandum (KIM), the fund house added.