New Star Asset Management (UK) - Tata Asset Management tie up

UK fund manager ties up with Tata for India equity fund


London, Apri 6 (PTI)

British fund manager New Star Asset Management has entered into a joint venture with the Tata Group that will see the two companies launch an Indian equity fund for UK investors later this year.
The fund will be run for New Star by Tata's investment division, Tata Asset Management, which currently has around 6 billion dollars in assets under management.

http://www.ptinews.com/pti/ptisite.nsf/all/9388665665920F5565257423001C5D7C?Opendocument

Overseas Investments by Mutual Funds - Limit raised to US$7 bn

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