Foreign institutional investors could shy away from short-term debt instruments after Sebi said FIIs have to buy new investment limits to reinvest fund in debt once they have sold or redeemed existing holdings. The move will support the government's agenda of attracting long-term foreign capital, said market experts. Earlier, the limit remained unchanged if an FII reinvested the proceeds in a new debt instrument within five days of sale or maturity of a bond.
Source : Economic Times
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