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

xix. Hedged and unhedged Retail Investor AIF and share classes

1. The Retail Investor AIF shall, in its prospectus, clearly describe the general currency hedging strategies of the Retail Investor AIF and, where relevant, the features of individual currency share classes.

2. Where the Retail Investor AIF intends to invest in assets denominated in currencies other than the base currency, the Retail Investor AIF shall ensure that its prospectus discloses whether it is the intention of the Retail Investor AIF to hedge the resulting currency exposure back into the base currency and, if so, to what extent. The Retail Investor AIF shall, in its prospectus, disclose the general costs and/or exchange rate risks associated with the currency strategy.

3. The Retail Investor AIF shall, where it deals with an unhedged currency share class, disclose, in its prospectus, that a currency conversion will take place on subscription, redemption and distributions at prevailing exchange rates. The Retail Investor AIF shall, where appropriate, disclose that the value of