What are P-Notes?
Participatory notes (P-Notes) are financial instruments used by hedge funds not registered with SEBI.* Hedge funds invest in Indian stocks through custodians in India* P-Notes are issued by registered FIIs to overseas investors who want to invest in India without registering
How do P-Notes work?
* India-based brokerages buy India-based securities and then issue P-Notes to foreign investors* Any dividends or capital gains collected from the underlying securities go back to the investors
Thursday, December 18, 2008
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