Foreign investment limit in mutual fund schemes capped with expense aggregation rules and mandatory board reporting. SEBI permits mutual funds to invest up to ten percent of a scheme's net assets as at the specified valuation date in foreign securities, subject to minimum and maximum per-fund investment quanta and necessary approvals; previously approved funds may seek enhancements and others must apply to SEBI. Investments in overseas mutual funds are exempt from the Seventh Schedule unit-investment and fee prohibition, provided the combined foreign and domestic management fees and recurring expenses do not exceed the prescribed overall expense limits, with pro rata application where only part of assets are invested, and with required board reporting and annual report disclosure.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Foreign investment limit in mutual fund schemes capped with expense aggregation rules and mandatory board reporting.
SEBI permits mutual funds to invest up to ten percent of a scheme's net assets as at the specified valuation date in foreign securities, subject to minimum and maximum per-fund investment quanta and necessary approvals; previously approved funds may seek enhancements and others must apply to SEBI. Investments in overseas mutual funds are exempt from the Seventh Schedule unit-investment and fee prohibition, provided the combined foreign and domestic management fees and recurring expenses do not exceed the prescribed overall expense limits, with pro rata application where only part of assets are invested, and with required board reporting and annual report disclosure.
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