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  • MAM-2.5 MAM-2.5 Exception for Redemption of Units in a Collective Investment Scheme

    • MAM-2.5.1

      Sections MAM-2.2 or MAM-2.3 shall not apply in respect of the redemption of units in a collective investment scheme by a trustee or manager under a trust deed relating to that collective investment scheme in accordance with a buy-back covenant contained or deemed to be contained in the trust deed at a price that is required by the trust deed to be calculated, so far as is reasonably practicable, by reference to the underlying value of the assets less:

      (a) Any liabilities of that collective investment scheme to which the units relates; and
      (b) Any reasonable charge for purchasing the units.
      November 2010

    • MAM-2.5.2

      The exception provided under rule MAM-2.5.1 will not be applicable to fund managers or trustees who are identified as insiders for the selling of underlying securities of a collective investment scheme for the purpose of redemption of units.

      November 2010