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Investment in Foreign Securities.

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..... e 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 permissible to each mutual fund irrespective of size of assets. The mutual funds which have already received the approvals from the Excha .....

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..... he 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 investment. The details of calculation for charging such expenses shall be reported to the Boards of AMC and trustees and shall also be di .....

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