Version date: 14 March 2018 - onwards
  Version 9 of 9    

i. General restrictions

1. The Retail Investor AIF shall not, nor shall it appoint a management company or general partner or AIFM which would, acquire any shares carrying voting rights which would enable it to exercise significant influence over the management of an issuing body. This requirement does not apply to investments in other investment funds. It is also disapplied where the Retail Investor AIF is a venture capital, development capital or private equity Retail Investor AIF provided its prospectus indicates its intention regarding the exercise of legal and management control over underlying investments.

2. The Retail Investor AIF shall not grant loans or act as a guarantor on behalf of third parties. This is without prejudice to the right of a Retail Investor AIF to acquire debt securities. It will not prevent Retail Investor AIFs from acquiring securities which are not fully paid.

3. The Retail Investor AIF shall not raise capital from the public through the issue of debt securities.

4. The Retail I