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Sovereign funds can invest as FIIs

MUMBAI: The Securities and Exchange Board of India on Thursday allowed overseas sovereign wealth fund to register as foreign institutional investors (FIIs) and invest in shares and government securities. With the amendments to the FII regulation, 1995, the applicants for FIIs can include SWFs in addition to international or multilateral organisation, foreign governmental agency and overseas central bank.

The amendments also make it clear that unregulated university funds, endowments and charitable trusts can seek registration as FIIs.

The regulator also expanded the investment opportunities for FIIs by allowing them to invest in the CIS.

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