Selective registration of hedge funds: M Damodaran

Mumbai: SEBI has said that it would allow registration of hedge funds selectively, after looking at the merits of each case before taking a decision.

Speaking to reporters SEBI chairman M Damodaran, said, "There are a whole lot of people involved in hedge funds. It is difficult even to describe what is meant by a hedge fund."

According to Damodaran, many hedge funds were already present in the Indian market through the offshore derivatives market.

"They should come here and invest directly. Let them come from the front door. Let them not hide," he said, adding that nearly 30 per cent of FII investment in the market was estimated to be through the hedge fund route.