1. The Retail Investor AIF shall publish an annual report for each financial year. The accounting information given in the annual report must be audited by one or more persons empowered to audit accounts in accordance with the Companies Acts. The auditor's report to unitholders, including any qualifications, shall be reproduced in full in the annual report.

2. The Retail Investor AIF shall include the information specified as being required under the AIFM Regulations and the information specified in this section in its annual report.

3. A Retail Investor AIF must publish a half-yearly report covering the first six months of the financial year. The information set out in this section must be incorporated into the halfyearly report.

4. The Retail Investor AIF shall prepare and submit to the Central Bank its first set of accounts (whether annual or half-yearly) within 9 months of the launch date and publish them within 2 months if half-yearly or 6 months if annual. The first annual reports must be within 18 months of incorporation/establishment and published within 6 months.