Overseas investment limit for mutual funds updated; individual fund cap linked to net assets and subject to a fixed maximum. Mutual funds may invest in ADRs, GDRs, foreign securities and overseas ETFs within an overall overseas investment ceiling of US$3 billion, subject to an individual sub ceiling not exceeding 10% of a fund's net assets as on March 31 of the relevant year and capped at US$150 million per fund; all other conditions from the prior circular remain unchanged and the directions are issued under Section 11(1) of the applicable Act and Regulation 77 of the Mutual Funds Regulations.
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Provisions expressly mentioned in the judgment/order text.
Overseas investment limit for mutual funds updated; individual fund cap linked to net assets and subject to a fixed maximum.
Mutual funds may invest in ADRs, GDRs, foreign securities and overseas ETFs within an overall overseas investment ceiling of US$3 billion, subject to an individual sub ceiling not exceeding 10% of a fund's net assets as on March 31 of the relevant year and capped at US$150 million per fund; all other conditions from the prior circular remain unchanged and the directions are issued under Section 11(1) of the applicable Act and Regulation 77 of the Mutual Funds Regulations.
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