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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 27 May 2019 - onwards
    Version 1 of 1    

Regulation 89 Short-Term Money-Market Funds

(1) A responsible person of a UCITS that is a Short-Term Money-Market Fund shall ensure that the primary investment objectives of the UCITS are to -

(a) maintain the principal of the fund, and

(b) provide a return in line with money-market rates.

(2) A responsible person of a UCITS that is a Short-Term Money-Market Fund shall ensure that the relevant UCITS -

(a) invests only in the following:

(i) high quality money-market instruments, as determined by the responsible person, that comply with the criteria for money-market instruments as set out in the UCITS Regulations;

(ii) deposits with credit institutions specified in Regulation 7;

(b) takes into account and documents the assessment by the responsible person of at least the following factors, in determining the quality of a relevant investment:

(i) the credit quality of the instrument;

(ii) the nature of the asset class represented by the instrument;

(iii) in the case of a structured financial instrument, the operational and counterp

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