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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Rulebook Modules
Collective Investment Rules (CIR) [VER25/07-19]
Part 4 Core Rules Relating to Establishment and Management of Domestic Funds
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Financial Markets Tribunal

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(1 version)
Jul 11 2010 onwards

CIR 8.4.2

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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 at each valuation point there are at least as many UnitsG in issue of any class as there are UnitsG registered to UnitholdersG of that class; and
(b) not do, or omit to do, anything that is or is reasonably likely to confer on itself a benefit or advantage at the expense of a UnitholderG or prospective UnitholderG .
(2) Where a Fund ManagerG has not complied with (1) or there is any other valuation error, it must correct the error as soon as possible and must reimburse the FundG any costs it may have incurred in correcting the position, subject to any reasonable minimum level for such reimbursement as set out in the ProspectusG .
(3) If the FundG is structured as an Investment TrustG :
(a) the Fund ManagerG must notify the TrusteeG of the matters specified in (2);
(b) the TrusteeG must also:
(i) take reasonable steps to ensure that the Fund ManagerG complies with the matters specified in (1) and (2); and
(ii) provide any other notification required under these RulesG .
Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]