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IRDA issues circular to clarify controlled funds

Published on Thu, Mar 18, 2010 at 22:27 |  Source : CNBC-TV18

Updated at Thu, Mar 18, 2010 at 22:29  

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IRDA issues circular to clarify controlled funds

The Insurance Regulatory and Development Authority (IRDA) has issued a circular to clarify controlled funds, reports CNBC-TV18. Unit-linked insurance products (ULIP) are classified under controlled funds only for reporting purposes

 

The current practice of having multiple ULIP funds is likely to continue. There is no change in the investment pattern of ULIPs and other funds.

 

The regulator has issued a circular which includes ULIPs in controlled funds. The circular has been issued to increase investment disclosures of insurance companies.

 

  

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