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| FII registration up by record 376 |
| Deepak Korgaonkar / Mumbai Jan 01, 2009, 22:14 IST |
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Registration of foreign institutional investors (FIIs) with the Securities and Exchange Board of India (Sebi) surged by a record 376 in 2008.
The jump in FII registration is attributed to the market regulator simplifying registration norms in October 2007.
With the 2008 figure, the total number of FIIs registered in India has increased to 1,595. In 2007, a total of 226 FIIs were registered with Sebi, and in 2006, as many as 170 had opened their offices in India.
The number of registered FIIs in India has gone up despite the fact that their selling in the domestic market was the steepest and that their portfolios had eroded hugely during the year.
A consultant to FIIs said the list of new foreign investors included those who were investing through Participatory Notes (PNs). Besides, there were many pension funds that had entered the domestic market for the first time. These funds had just started investing, while some other newly-registered FIIs were sitting on the fence, waiting for the equity market to settle down, the consultant added.
Among the 376 new entrants, 165 FIIs were from the US, compared to 110 in 2007, five from China and one each from Bahrain, Brunei, Kenya, Poland and Thailand.
The number of FIIs from countries such as Mauritius, Australia, Singapore, France, Britain, UAE and Cayman Islands has more than doubled. Of the total registered FIIs, 560 are from the US, 254 from the UK (120 in 2007), 99 each from Luxembourg and Singapore, 71 from Mauritius, 68 from Hong Kong and over 60 from Canada, Australia and Ireland.
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