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Re: Mutual Fund IRDA
As you want to know guidelines for Mutual Fund Investments fixed by Insurance Regulatory and Development Authority, here I will let you know. Here are guidelines The investment shall be restricted to Investment of temporary surpluses of the Insurer which may be placed in schemes of Mutual Funds comprising of Liquid Funds, Gilt or Debt Funds The Mutual Fund should be registered with SEBI and be governed by SEBI (Mutual Funds) Regulations. 1996 The Insurer shall NOT make any investment in shares or debentures of any private limited company in which investment, if any, is made by the Mutual Fund; The investment in Mutual Funds AT ANY POINT OF TIME shall not exceed 50%* of Investment falling under “Other than Approved Investments” for both Life and General Insurance Companies. The insurer shall AT ALL TIMES ensure that the investments in Mutual Funds are diversified among the various Mutual Funds The Board of the Insurer shall lay down proper Guidelines for selection of Mutual Funds and schemes permissible including exposure Norms to a Single Mutual Fund and to each Scheme of Mutual Fund so as to avoid concentration of Investment in a particular scheme. Insurance Regulatory and Development Authority, Mutual find Guidelines Address:- Insurance Regulatory and Development Authority 3rd Floor, Parisrama Bhavan, Basheer Bagh HYDERABAD 500 004 Telangana State (INDIA ) Phone:- (040) 23381100 |
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