FPI assets: Ireland pips Mauritius for 4th spot

Mauritius, once among the leading destinations for foreign portfolio investors (FPIs) routing funds into India, has now slipped to the fifth position, behind Ireland, in terms of assets under custody (AUC) as on June 30.

- KHUSHBOO TIWARI

At the fourth position, Ireland boasted an AUC of ₹4.41 trillion, slightly more than Mauritius, which recorded an AUC of ₹4.39 trillion by the end of June 2024, according to data from the National Securities Depository (NSDL).

The gap between the two jurisdictions becomes more pronounced when examining pure equity holdings. Ireland registered a 26 per cent surge in AUC for FPIS in the first half of the calendar year, whereas Mauritius saw an 11 per cent uptick.

In Mauritius, legal experts and custodians said, time taken for approval for new funds has risen significantly of late, leading to delays in fund registrations.