homemarket Newsstocks NewsDon’t think change in FATF status of Mauritius should impact existing FPIs, says Ajay Rotti of Dhruva Advisors
Don’t think change in FATF status of Mauritius should impact existing FPIs, says Ajay Rotti of Dhruva Advisors
The inclusion of Mauritius in “grey list” of the Financial Action Task Force (FATF) may not impact the existing foreign portfolio investors (FPI), said Ajay Rotti, partner at Dhruva Advisors.
The inclusion of Mauritius in “grey list” of the Financial Action Task Force (FATF) may not impact the existing foreign portfolio investors (FPI), said Ajay Rotti, partner at Dhruva Advisors.
In an interaction with CNBC-TV18, Rotti said that he expected the existing FPIs would not have to wind up form Mauritius and the country would try to remain in the FATF approved list.
Market regulator Securities & Exchange Board of India (SEBI) put out a clarification that FPIs from Mauritius will continue to be eligible for FPI registration - with increased monitoring as per Financial Action Task Force (FATF) norms.
Rotti also shared his views and readings on the clarification.
“The global institutional investors, in particular, are wary of investing through structures that have an entity or jurisdiction which is in the grey list. So we will have to see what impact that will have rather than whether they will be permitted or barred from SEBI perspective,” he added.
He further added that 50 percent of total FPIs would be coming from Mauritius.
First Published: Feb 25, 2020 10:24 AM IST
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