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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation

Sovereign wealth funds shun Indian tax-free bonds

Posted on 30 December 2013

A volatile rupee, the lack of any specific tax advantage and unattractive interest rates have ensured that not even one issue has been subscribed by these wealth funds. Sovereign wealth funds have shunned tax-free bonds issued by state-run Indian companies and financial institutions despite the government’s attempts to woo these foreign funds in the numerous overseas road shows by finance minister P. Chidambaram.
A volatile rupee, the lack of any specific tax advantage and unattractive interest rates have ensured that not even one issue has been subscribed by these wealth funds, according to officials from these financial institutions and merchant bankers………………………………………..Full Article: Source


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