Economic Glossary | Participatory Notes | Bankers Algo
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Economic Glossary

    Participatory Notes

Participatory Notes or P-notes are derivative instruments, used by Foreign Institutional Investors (FIIs) who are NOT registered with SEBI. The major characteristics of P-notes are:
They are derivative instruments

  • They are used by Foreign Institutional Investors (FIIs) who are NOT registered with SEBI.
  • They are used on Indian shares, but at a location outside of India.
  • This means that the FIIs who are not registered with SEBI but wish to take exposure in the Indian securities markets can use P-notes. P-Notes, mostly used by overseas HNIs (High Networth Individuals), hedge funds and other foreign institutions, allow them to invest in Indian markets through registered Foreign Institutional Investors (FIIs), while saving on time and costs associated with direct registrations. Brokers buy or sell securities on behalf of their clients on their proprietary account and issue such notes in favor of such foreign investors.

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Word of the day

Affluence(n)

Meaning:

Abundance of money, property, and other material good

Synonyms: abundance, fortune, luxury, opulence, plenty

Antonyms: dearth, deficiency, inadequacy

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