Investment by Mutual Funds in Overseas Securities - Liberalisation of

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..... Attention of Authorised Dealer Category - I (AD) banks is invited to Regulation 6B and Regulation 26 of Notification No.FEMA.120/RB-2004 dated 7 th July 2004, as amended, from time to time and AP (Dir Series) Circular No. 97 dated April 29, 2003. 2. As proposed by the Hon'ble Finance Minister in his budget speech for the year 2006-07, overseas investments by Mutual Funds registered with Secu .....

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..... mmediate effect. It has also been decided to allow a limited number of qualified Indian Mutual Funds to invest cumulatively up to USD 1 billion in overseas Exchange Traded Funds as may be permitted by the SEBI. 4. Detailed operational guidelines for implementation of the budget announcement including eligibility criteria, limits, identification of recognised stock exchanges, investible universe, .....

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..... Yours faithfully, M. Sebastian Chief General Manager Annex - I [A.P.(DIR Series) Circular No 3 dated July 26,, 2006] (USD in thousands) Name of the Mutual Fund Investments made during the month (Outflow Disinvestments made during the month (Inflow) Net amount of Investment held abroad ADR/GDR Debt Instru-ments Equity Exchange Traded Fu .....

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