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Investment in Foreign Securities.

India Association of Mutual Funds in India Dear Sirs, Please refer to SEBI Circular No. MFD/CIR/17/419/02 dated March 30, 2002 on the captioned subject. It has now been decided to raise the investment limit on foreign securities as outlined in the above Circular to 10% of net assets of each mutual fund as on March 31, 2002. However, a minimum of US$ 5 million and maximum of US$ 50 million is permi .....

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other expenses charged by the mutual fund(s) in foreign countries along with the management fee and recurring expenses charged to the domestic mutual fund scheme shall not exceed the total limits on expenses as prescribed under Regulation 52(6). Where the scheme is investing only a part of the net assets in the foreign mutual fund(s), the same principle shall be applicable for that part of invest .....

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