CHIEF GENERAL MANAGER
INVESTMENT MANAGEMENT DEPARTMENT
SEBIIMD/CIR No.6/63715/06
March 29, 2006
All Mutual Funds Registered with SEBI
Association of Mutual Funds in India (AMFI)
Dear Sirs,
Re: Applicability of Investment Restrictions for Securitised Debt
This has reference to the e-mail dated February 25, 2005 on the captioned matter.
The applicability of restrictions on investments in Debt Securities including securitised debt are specified under Clause 1 of Schedule VII to the SEBI (Mutual Funds) Regulations, 1996.
It is now clarified that for investments made in securitised debt (mortgage backed securities/asset backed securities) restrictions at the originator level would not be applicable.
This circular is issued under Regulation 77 of SEBI (Mutual Funds) Regulations, 1996.
Yours faithfully,
D. Chanda