https://www.taxtmi.com/circulars?id=61017 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. en-us Thu, 07 Nov 2002 00:00:00 +0530 Fri, 17 May 2019 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=61017 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. Circulars SEBI Thu, 07 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/circulars?id=61017