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Version date: 11 March 2024 - onwards
  Version 12 of 12    

iii. Short-Term Money Market Funds - valuation on the basis of amortised cost

1. Where the Retail Investor AIF is a Short-Term Money Market Funds it is permitted to follow an amortised cost valuation methodology provided the Retail Investor AIF or, where relevant, its delegate has demonstrable expertise in the operations of money market funds which follow this method of valuation. Such expertise shall be demonstrable where:

(a) the Short-Term Money Market Fund has obtained a triple-A rating from an internationally recognised credit rating agency; or

(b) the management company or investment manager is engaged in the management, or has been engaged in the management, of a triple-A rated money market fund; or

(c) in circumstances other than (a) or (b), where the Retail Investor AIF or, where relevant, its delegate, has demonstrated to the Central Bank (through separate application) that appropriate expertise exists in the operation of this type of money market fund.

2. The Retail Investor AIF shall ensure and be satisfied at all times that the persons responsible f

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