|
| Introduction |
| Part I: General rules |
| Section 1: Retail Investor AIF restrictions |
| i. General restrictions |
| ii. Investment restrictions |
| iii. Borrowing powers |
| iv. Financial derivative instruments |
| v. Efficient portfolio management |
| vi. Constitutional documents |
| vii. Valuation |
| viii. Distinction between open-ended Retail Investor AIF and those which are open-ended with limited liquidity arrangements |
| ix. Share classes |
| x. Umbrella Retail Investor AIFs |
| xi. Investment through subsidiary companies |
| xii. Dealings by management company, general partner, depositary, AIFM, investment manager or by delegates or group companies of these |
| xiii. Directed brokerage services and similar arrangements |
| Appendix 1 Calculation of Global Exposure using the VaR methodology |
| Section 2: Supervisory requirements |
| i. General conditions |
| ii. Offer period |
| iii. Directors of Retail Investor AIF investment companies |
| iv. Suspensions |
| v. Replacement of depositary |
| vi. Replacement of AIFM, management company, general partner or third party |
| vii. Monthly and quarterly returns |
| viii. Amalgamation of Retail Investor AIFs with other investment funds |
| Section 3: Prospectus requirements |
| i. General requirements |
| ii. General information concerning the Retail Investor AIF |
| iii. Investment policy |
| iv. Investment in other investment funds |
| v. Efficient portfolio management |
| vi. Valuation |
| vii. Remuneration and costs arising from underlying investments |
| viii. Dealing |
| ix. Information concerning a management company or general partner |
| x. Information concerning investment managers and other service providers |
| xi. Authorisation status |
| xii. Risk disclosures |
| xiii. Conflicts of interest |
| xiv. Directed brokerage services and similar arrangements |
| xv. Umbrella Retail Investor AIFs |
| xvi. Structured Retail Investor AIFs |
| xvii. Warehousing |
| xviii. Distributions out of and charging of fees and expenses to capital |
| xix. Hedged and unhedged Retail Investor AIF and share classes |
| xx. Investment through subsidiaries |
| Section 4: General operational requirements |
| i. Dealing |
| ii. Hedged share classes |
| iii. Regulated markets |
| iv. Directed brokerage services or similar arrangements |
| Section 5: Annual and half-yearly reports |
| i. Publication of annual and half-yearly reports |
| ii. Information to be contained in the annual report |
| iii. Information to be contained in the half-yearly report |
| Part II: Specific Fund-type Requirements |
| Section 1: Venture or development capital or private equity Retail Investor AIFs |
| Section 2: Money market Retail Investor AIFs |
| i. Short-Term Money Market Funds |
| ii. Money Market Funds |
| iii. Short-Term Money Market Funds - valuation on the basis of amortised cost |
| iv. European Central Bank reporting requirements |
| Section 3: Real Estate Retail Investor AIFs |
| Section 4: Funds of unregulated funds Retail Investor AIFs |
| Section 5: Retail Investor AIFs which invest more than 30% of net assets in another investment fund |
| Section 6: Closed ended Retail Investor AIFs or open-ended Retail Investor AIFs with limited liquidity |
| i. Closed-ended period |
| ii. Liquidity |
| iii. Changes to existing closed-ended Retail Investor AIFs |
| Section 7: Guaranteed Retail Investor AIFs |
| Section 8: Distributions out of and charging fees and expenses to capital |
| Part III: Marketing of AIF to retail investors |