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Wednesday, Dec 31, 2003

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PNs account for quarter of FII funds

Our Bureau

MUMBAI, Dec. 30

A quarter of all foreign institutional investment (FII) is through participatory notes, the Securities and Exchange Board of India (SEBI) said on Tuesday.

According to new data released by the regulator, the total value of underlying investment in equity represented by PNs as at end November was Rs 21,179 crore compared to Rs 19,125 crore as at end September. The total FII investments have grown from Rs 72,965 crore to Rs 84,762 crore during that period.

A SEBI release said its analysis indicated that the PNs, issued by 12 entities of 515 registered as FIIs, represented about 200 underlying equities.

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