Overseas Investments by Mutual Funds - SEBI - SEBI/IMD/CIR No.2/122577/08

DEPUTY GENERAL MANAGER INVESTMENT MANAGEMENT DEPARTMENT SEBI/IMD/CIR No.2/122577/08 April 8, 2008 All Mutual Funds Registered with SEBI Association of Mutual Funds in India (AMFI) Dear Sirs, Re: Overseas Investments by Mutual Funds 1. Please refer to clause 1 (a) of SEBI Circular SEBI/IMD/CIR No.7/104753/08 dated September 26, 2007 pertaining to overseas investments by mutual funds. 2. In consultation with Govt. of India and RBI, it has now been decided to enhance the aggregate ceiling for overseas investment to US$7 bn. 3. All other conditions specified in the above mentioned circular remain unchanged. 4. These guidelines are issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with the provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996. Yours faithfully, Ruchi Chojer