Loading...Last Updated: 31-Aug-2015
Insurance Regulatory and Development Authority of India (Irdai) has said that Exchange Traded Funds with G-sec Underlying (GILT-ETF) will be part of ?approved investments? for insurers. The regulator said that these should be issued and managed by mutual funds registered under Sebi (Mutual Funds) Regulations. The object of the GILT-ETFs would be to invest in a basket of Government Securities Actively Traded in the market or constituents of a publicly available index. Irdai said that the minimum investment by the insurer should not be less than creation unit size and shall not be reduced at any time below creation unit size and value of creation unit size, at the time of investment, should not be more than Rs. 50 lakh.