Short-term Money Market Funds for Retail Investor AIFS and Qualifying Investor AIFS – Valuation on the Basis of Amortised Cost

A Retail Investor AIF or a Qualifying Investor AIF which is a Short-Term Money Market Fund will only be permitted to follow an amortised cost valuation methodology if it or, where relevant, its delegate has demonstrable expertise in the operation of money market funds which follow this method of valuation. Paragraph 1 of section 2.iii (Money market Retail Investor AIFs) of Part II of the Retail Investor AIF chapter and to paragraph 1 of section 2.iii (Money market Qualifying Investor AIFs) of Part II of the Qualifying Investor AIF chapter list how such expertise shall be demonstrable.

Applications pursuant to paragraph 1(c) of section 2.iii (Money market Retail Investor AIFs) of Part II of the Retail Investor AIF chapter or to paragraph 1(c) of section 2.iii (Money market Qualifying Investor AIFs) of Part II of the Qualifying Investor AIF chapter will be considered on a case-by-case basis and must be submitted in advance of the application for authorisation of the money market fund.

Issued: 3 July 2013
Latest revision: 3 July 2013