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

vii. Valuation

1. The Retail Investor AIF shall specify, in its constitutional document, the rules for the valuation of its assets. These rules shall clearly and unambiguously define an expected method of valuation and shall set out a framework for variation from this method of valuation.

2. The Retail Investor AIF shall only purchase and sell assets at prices which are in conformity with the rules in the constitutional document.

3. The Retail Investor AIF shall only issue or sell its units at a price arrived at by dividing the net asset value of the Retail Investor AIF (calculated in accordance with the valuation rules set out in paragraphs 5 to 9 of this section) by the number of units outstanding; such price may be increased by duties and charges.

4. The Retail Investor AIF shall only redeem or repurchase its units at a price arrived at by dividing the net asset value of the Retail Investor AIF by the number of units outstanding; such price may be decreased by duties and charges.

5. The Retail Inv