المادة 73: Valuation

Article 73: Valuation

a. The fund operator shall be responsible for valuing the assets of the public fund. In so doing, the fund operator shall conduct a full and fair valuation.

b. The assets of a public fund must be valued by the fund operator each dealing day at such time as specified in the Terms and Conditions of such public fund, and for the duration not exceeding one day from the deadline for submission of requests for subscription or redemption.

c. The fund manager must, in the Fund’s Terms and Conditions, document the basis of the valuation of units and, where appropriate, any valuation methodology, and must ensure that the valuation methodology and procedures are applied in a fair and consistent manner.

d. The fund manager must develop, maintain and state in the Fund’s Terms and Conditions a clear policy covering valuation, valuation points, pricing and dealing in units. The fund manager must adopt a consistent approach to the valuation of units for the purposes of meeting the subscription and redemption requests and transfer of ownership.

e. The fund operator must comply with the provisions of Annex (5) of these Regulations in relation to valuation of the public funds.