SEBI vide circular dated August 01, 2024 has allowed University Funds and University related Endowments to be registered as Category I FPI, subject to them fulfilling the following additional conditions:
- Indian equity AUM being less than 25% of global AUM
- Global AUM being more than INR 10,000 crore equivalent
- Appropriate return/filing to the respective tax authorities in their home jurisdiction to evidence the nature of a non-profit organization exempt from tax.
It has been decided that University Funds and University related Endowments shall not be required to make the additional disclosures. The eligible jurisdictions with respect to the exemption granted to University Funds and University related Endowments shall be as specified by SEBI from time to time, in consultation with the pilot Custodians and DDPs Standards Setting Forum.
