Applicability of Investment Restrictions for Securitised Debt - SEBI - SEBIIMD/CIR No.6/63715/06

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