Budget 2024 decoded: Wealth managers now back global MFs

The long-term capital gains tax on international mutual funds has been reduced to 12.5% for investments held over 24 months. Wealth managers now recommend diversifying portfolios with 10-15% in overseas equities, particularly in the US and China. The long-term capital gains tax on international mutual funds has been reduced to 12.5% for investments held over 24 months. Wealth managers now recommend diversifying portfolios with 10-15% in overseas equities, particularly in the US and China.  Economic Times