New Delhi – The Securities and Exchange Board of India (Sebi) has told several hedge funds wanting to invest in India that they should agree to a lock-in period of two years as a cushionagainst sudden withdrawal under adverse circumstances. A Sebi official said some hedge funds, both new and existing, already agreed to the lock-in stipulation.
Some of these are already invested in the Indian market through participatory notes (PNs). These funds want to register directly with Sebi and invest with a two-year lock-in, sources said. Bydefinition, hedge funds are pooled funds that invest in several instruments across markets and are organised as private investment partnerships.
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