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Big FPI makes India entry

Canada-based insurer Sun Life Financial has registered as a foreign portfolio investor (FPI) in India after the market regulator tightened the participatory note (p-note) norms. Till now, the fund used p-notes for investing in India, but has now decided to take the direct route. Sun Life Financial is a big institutional investor in the US, Canada and European markets. Sources said the fund is planning to deploy around $2-3 billion in the Indian markets over the next two years. “Sun Life has registered as category-II FPI in India and is expected to invest in the Nifty