OREANDA-NEWS  On February 13, the Securities and Exchange Board of India registered Alfa-Capital Management Company as a foreign portfolio investor, according to the data on the council's website. According to RBC in the Russian company, this status will allow Alfa-Capital to independently conduct transactions in the interests of clients on both stock exchanges of India — Bombay (BSE) and National (NSE). So far, it is the only company from Russia admitted to trading on Indian stock exchanges.

As part of the process of obtaining a license, Alfa-Capital will conclude an agreement with the Indian provider Orbis Financial Corporation (serves foreign and local investors) to provide depository services, the company said.

Settlements on the stock exchanges of India will be conducted in rupees. But the company's clients will invest and receive income in rubles, Irina Krivosheeva, CEO of Alfa-Capital, told RBC. "The conversion will take place outside the Russian infrastructure, through our counterparties. That is, we will withdraw rubles from Russia and return rubles too. There will be no cross—border transfers in rupees, because this is a complicated procedure," she explained.
According to Krivosheeva, investments in securities traded on Indian exchanges will be available to qualified investors as part of a managed strategy. The minimum entry threshold is 1 million rubles. "Then we will form strategies for retail clients — perhaps standard strategies, perhaps open mutual funds. But this is rather the next stage. Accordingly, the minimum investment threshold will be gradually reduced," the CEO of Alfa—Capital expects.