SEBI increases the overseas investment of MFis to $600 million
On Thursday the Securities and Exchange Board of India has increased the overseas investment limit for individual mutual funds to $600 million.
Earlier the overseas investment limit was about $300 million.
The circular issued on November 5, 2020 reads that within the overall industry limit of $7 billion each fund house can make a maximum of $ 600 million in overseas investments.
The Chief investment officer Rajeev Thakkar stated that "If the limits hadn’t been enhanced, some of the larger funds could have hit the upper limit in the coming days"