The Hindu Business Line : FII registration up

This is seen from the number of FIIs registered with SEBI since the beginning of this year. Their number has increased by 13 in just three weeks time. The total number of FIIs registered with SEBI till Tuesday was 650 compared to 637 at the end of December 2004.

The FIIs that have been registered with SEBI in 2005 are from various parts of the globe. However, majority of them have their registered office in Luxembourg, the country where several Indian companies' GDRs are listed.

Some of these FIIs are either banks, insurance companies or pension funds. For some their exact details are not known, but brokers said they could be hedge funds.

Last year, India witnessed huge FII inflows with majority of funds coming from the newly registered FIIs.

Brokers said the inflows in this year are also likely to be high. But the beginning has not been very well in terms of inflows due to the overheated stock markets.

They said several foreign broking firms had advised their FII clients to sell the stocks and make profit. They said had the new FIIs not come, the outflows would have been much higher. Till January 24, FIIs were net sellers to the tune of Rs 739 crore of which just Rs 92 crore is contributed by net sales in equity market.

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