Date:20/03/2004 URL: http://www.thehindubusinessline.com/2004/03/20/stories/2004032002570100.htm

Back MFs allowed to invest in foreign securities

Our Bureau

Mumbai , March 19

MUTUAL funds can now invest abroad, according to the Securities and Exchanges Board of India (SEBI) notification.

SEBI has decided to permit each mutual fund to invest in foreign securities up to 10 per cent of their net assets as on January 31 of each relevant year (instead of the present reference date of January 31, 2003), stated the circular.