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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Collective Investment Rules (CIR) [VER24/02-19]
Part 4 Core Rules Relating to Establishment and Management of Domestic Funds
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Financial Markets Tribunal
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  Versions
(1 version)
 
Jul 11 2010 onwards

CIR 8.4.1

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The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

To view past versions of this module in PDF format, please visit the Archive.

(1) A Fund ManagerG must:
(a) ensure that the Fund PropertyG is valued at regular intervals as appropriate to the nature of the FundG , except where such valuation is suspended in any circumstances that are set out in the Fund'sG ConstitutionG or ProspectusG ;
(b) prepare a valuation in accordance with (3) for each relevant type of UnitG at each relevant valuation point; and
(c) as soon as practicable after each valuation point, both publish and make available to the UnitholdersG and prospective UnitholdersG of the FundG , the price of the UnitsG of the FundG .
(2) The value of the Fund PropertyG is the net value of the Fund PropertyG after deducting any expenses and outstanding borrowings, including any capital outstanding on a mortgage of any Real PropertyG .
(3) The value of the Fund PropertyG must, except as otherwise provided in this section, be determined in accordance with the provisions of the ConstitutionG and the ProspectusG , as appropriate.
(4) For the purposes of (2), any charges that were paid, or would be payable, on acquiring or disposing of the asset must be excluded from the value of that asset.
(5) A Fund ManagerG must not make a dilution levy or dilution adjustment unless stated as permitted in the Fund'sG ProspectusG . Such a measure must be applied in a fair manner to reduce dilution and solely for that purpose.
Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]