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of <h1>SEBI Sets $5 Billion Cap for Overseas Mutual Fund Investments; $300 Million Limit Per Fund.</h1> The circular issued by SEBI outlines guidelines for mutual funds in India to make overseas investments. The total ceiling for such investments is set at US $5 billion, with a cap of US $300 million per mutual fund. Permissible investments include ADRs, GDRs, foreign equities, debt securities, money market instruments, and derivatives for hedging. Additionally, mutual funds can invest up to US $1 billion in overseas ETFs, with a limit of US $50 million per fund. The circular mandates the appointment of a dedicated fund manager, due diligence by AMCs, and specific disclosure requirements. Existing schemes can invest abroad if they meet these guidelines.
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