Explain the provision relating to maintenance of records by an investment manager under the SEBI Infrastructure Investment Trusts (InvITs) Regulations.

Answer 6(b) Regulation 26 of the SEBI (Infrastructure Investment Trust) Regulations, 2014 stipulates that the investment manager shall maintain records pertaining to the activity of the InvIT, wherever applicable, including- all investments or divestments of the InvIT and documents supporting the same including rationale for such investments or divestments; agreements entered into by the InvIT or on behalf of the InvIT; documents relating to appointment of persons; insurance policies for infrastructure assets; investment management agreement; documents pertaining to issue and listing of units including placement memorandum, draft and final offer document, in-principle approval by designated stock exchanges, listing agreement with the designated stock exchanges, details of subscriptions, allotment of units, etc; distributions declared and made to the unit holders; disclosures and periodical reporting made to the trustee, SEBI, unit holders and the designated stock exchanges including annual reports, half yearly reports, etc.; valuation reports including methodology of valuation; books of accounts and financial statements; audit reports; reports relating to activities of the InvIT placed before the board of directors of the investment manager; unit holders' grievances and actions taken thereon including copies of correspondences made with the unit holder and SEBI, if any; any other material documents;