المادة 43(b): Investment Limitations

b. Investments of the public fund’s money and assets must be in another investment fund in accordance with the following conditions:

1. The investment of the public fund’s money and assets shall be limited to investment in the funds registered with the Authority or investment funds outside the Kingdom subject to an equivalent regulatory oversight in a jurisdiction recognised by the Authority as having equivalent regulation. The Authority shall have the discretion to assess whether the jurisdiction has regulatory standards and requirements at least equivalent to those of the Authority.

2. The investment of the public fund’s money and assets in private funds or illiquid assets, in accordance with Paragraph (j) of this Article, shall not exceed (10%) of the public fund’s net assets value.

3. The investment of the money and assets of the public fund shall not exceed (25%) of its net asset value in the units of another investment fund, or in the units of different investment funds issued by the same capital market institution.