The Securities and Exchange Board of India on Friday said the mutual funds could now invest up to 10 per cent of net assets as on January 31 of the relevant year in foreign securities.

Elaborating on the clarification pertaining to mutual fund regulations, Sebi in a notification said up to January 31, 2005, the relevant date for deciding 10 per cent asset base available for investment in overseas securities would be January 31, 2005.