The Fii Goliaths On Dalal Street ; That the Indian Markets Are Being Fuelled by Huge Foreign Inflows Is Well Known, but Ever Wondered Who Are the Global Investors Stoking the Bull Run? Bt Provides an Exclusive Peek.

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$49 billion (Rs 2.205 lakh crore). That's the quantum of greenbacks that have cascaded into the country's equity markets since the by-now-ubiquitous foreign institutional investor (FII) tribe first checked into the country in 1992. And more than half of those inflows-some $28 billion (Rs 1.26 lakh crore)-have been invested in the past 35 months, making India one of the hottest destinations for foreign investible money-it's only in Japan (it attracted $260 billion or Rs 11.7 lakh crore between 2004 and November 2006) and Taiwan ($45.6 billon or Rs 2.052 lakh crore) that global portfolio investors have pumped more of the moolah.

With the FIIs clearly ruling on Dalal Street-estimates indicate that FIIs are investors in at least 1,000 Indian stocks-it's common to look at their mammoth inflows as a homogenous mass of invested wealth. That's far from the truth of course with, at last count, some 993 FIIs registered with the Securities & Exchange Board of India (SEBI), and another 2,938 bodies investing via the sub- account route through registered FIIs. But, as data put together by BT reveals, it's a handful of global investment houses that accounts for a chunk of the FII inflows into Indian equity. According to Emerging Portfolio, a global fund data provider and research firm, the top 10 funds that invested in India have a corpus of $13.6 billion (Rs 61,200 crore). Heading that list-as per data collated by BT from market sources-is HSBC, handling nearly $8 billion (Rs 36,000 crore) of foreign money in India (see The Big Boys' Club). HSBC is followed by JP Morgan, Fidelity, Merrill Lynch, DWS and UBS in that order, each of which handles between $5 and $7 billion (Rs 22,500-31,500 crore).

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The Fii Goliaths On Dalal Street ; That the Indian Markets Are Being Fuelled by Huge Foreign Inflows Is Well Known, but Ever Wondered Who Are the Global Investors Stoking the Bull Run? Bt Provides an Exclusive Peek.

Some of the men responsible for those billion-dollar allocations would be familiar names in Indian market circles. Ruchir Sharma, Head (Global Emerging Markets), Morgan Stanley, is based in New York, from where he drives his firm's India allocations. Sanjiv Duggal till recently was Chief Investment Officer (CIO) at HSBC AMC. He has since relocated to Singapore from where he oversees hsbc's India-dedicated funds. Duggal handles one of the largest ...

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