Permissible investments

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..... very real estate mutual fund scheme shall invest- (a) at least seventy five per cent. of the net assets of the scheme in- (i) real estate assets; (ii) mortgage backed securities (but not directly in mortgages); (iii) equity shares or debentures of companies engaged in dealing in real estate assets or in undertaking real estate development projects, whether listed on a recognized stock .....

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..... t more than fifteen per cent of the net assets of any of its real estate mutual fund schemes in the equity shares or debentures of any unlisted company. (7) No real estate mutual fund scheme shall invest in (a) any unlisted security of the sponsor or its associate or group company; (b) any listed security issued by way of preferential allotment by the sponsor or its associate or group c .....

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