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Sebi fixes borrowing limits for hedge funds

Economic Times – The Securities and Exchange Board of India (Sebi) on Monday allowed local hedge funds to borrow up to twice the fund’s net asset value, but lawyers say the move is restrictive compared with developed markets where leverage of up to five times is allowed.

This means if a fund’s net asset value is Rs 100 crore then its leverage after offsetting positions should not exceed Rs 200 crore.

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