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CIRCULAR ON INVESTMENTS IN DEBT SECURITIES OF INVITS AND REITS - IRDAI
Updated on:23rd Apr, 2021
a. The Debt Instruments of InvIT / REIT shall be rated and not less than'AA" as a part of Approved Investments. b. Debt Instruments of InvITs / REITs rated and or downgraded below 'AA" shall form part of Other Investments. c. No insurer shall invest more than 100/o of the Outstanding Debt instruments (including the current issue) in a single InvIT/REITs issue. d. The cumulative Investments in Units and Debt Instruments of InvITs and REITs sha,ll not exceed 3olo of total fund size of the Insurer at any point of time. e. No investment shall be made in Debt instruments of an InvIT/REIT where the Sponsor is under the Promoter Group of the Insurer. f. Group shall have the meaning as defined under Regulation 2(g) of IRDAI (Investment) Regulations, 20 16 g. Investment in Debt Instruments of InvIT will form part 'InfrastructurG Investments". h. Investment in Debt Instruments of REIT will form part of industry group 'Real Estate Actlvities" under NIC Industry Classification. i. The Investment in Debt securities of InvITs/REITs shall be valued either as per FIMMDA or at applicable market yield rates published by any Rating Agency registered with SEBI. j. The codes applicable under Category of Investment (COD for Debt Instruments of InvITs and REITs are
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