BENGALURU (Reuters) - India's market regulator said on Tuesday that foreign funds set up at GIFT City in Gujarat state can take full investment from non-resident Indians and other Indian-origin citizens.
However, they will need to make granular disclosures about their investors if the fund holds more than 33% of its equity assets under management in a single Indian group.
The Securities and Exchange Board of India (SEBI) also said that asset management companies should put in place a mechanism to prevent front-running and market abuse.
(Reporting by Chris Thomas, Jayshree P Upadhyay; Editing by Sohini Goswami)
