Foreign investors can now invest in equity Indian FMs
Tuesday, 1 March 2011
MUMBAI, Feb 28 (Reuters): Foreign investors have been allowed to invest in equity schemes of Indian mutual funds, Finance Minister Pranab Mukherjee proposed in his budget speech Monday.
The move is aimed at widening the class of foreign investors in the country's equity market, he said.
At present, only foreign institutional investors and sub-accounts registered with the Securities and Exchange Board of India (Sebi) and non-resident Indians are allowed to invest in mutual fund schemes.