Let $G$ be a reductive $p$-adic group. Consider the category of smooth (complex) representations of $G$ in which a (fixed) closed cocompact subgroup of the centre acts by a (fixed) character. It is well known that the supercuspidal representations in this category are both injective and projective. It is shown that, conversely, an admissible injective or projective object is necessarily supercuspidal.