Supreme Court Quashes Rajasthan Village Renaming, Says Government Must Follow its Own Policy  ||  NCLAT: NCLT Can Order Forensic Audit on its Own, No Separate Application Required  ||  NCLAT Reiterates That IBC Cannot be Invoked as a Recovery Tool for Contractual Disputes  ||  Delhi HC: DRI or Central Revenues Control Lab Presence in Delhi Alone Does Not Confer Jurisdiction  ||  Delhi High Court: Software Receipts Not Taxable on PE Basis Already Rejected by ITAT  ||  Delhi High Court: Statutory Appeals Cannot Be Denied Due to DRAT Vacancies or Administrative Delays  ||  J&K&L HC: Failure to Frame Limitation Issue Not Fatal; Courts May Examine Limitation Suo Motu  ||  Bombay HC: Preventing Feeding Stray Dogs at Society or Bus Stop is Not 'Wrongful Restraint'  ||  Gujarat HC: Not All Injuries Reduce Earning Capacity; Functional Disability Must Be Assessed  ||  Delhi HC: Framing of Charges is Interlocutory and Not Appealable under Section 21 of NIA Act    

Conditions for Investment in Alternative Investment Fund- (Insurance Regulatory and Development Authority) (05 Apr 2021)

MANU/IRDA/0040/2021

Insurance

Point 1.5 of Investment-Master Circular, 2017 specifies the conditions applicable for Insurers Investment in Alternative Investment Fund (AIF). The following shall replace the provisions applicable for Fund of Funds (FoF) mentioned in 1.5.3:

1.5.3 (a) No investment is permitted into AIFs which undertake leverage or borrowing other than to meet day-to-day operational requirements and as permitted under SEBI (Alternative Investment Funds) Regulations, 2012.

(b) Insurer shall invest only into Fund of Funds (FoF) which comply requirement of Section 27E of the Insurance Act, 1938.

(c) Insurer shall ensure compliance with Section 27E by a clause in the Fund Offer Documents executed by FoF to restrain such FoF investing into AIFs which invest in overseas companies/funds.

(d) No Insurer shall invest in an AIF, which in turn has exposure to a FoF, in which the Insurer has taken an exposure.

(e) The Insurer on a quarterly basis, obtain a certificate issued by the Concurrent Auditor on the compliance of the above conditions and file the same along with quarterly periodical returns.

Tags : INVESTMENT   AIF   CONDITIONS  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved