COLL 7.3.6 Spread for Units in Schemes etc—QFC Retail Schemes

(1) The operator of a QFC retail scheme must ensure that not more than 20% in value of the scheme property consists of units in any single collective investment scheme.

Note See r 7.4.2 (Investments in closed-ended schemes as transferable securities—QFC retail schemes) for units in schemes that are treated as transferable securities and not as units in a scheme.
(2) However, subrule (1) does not apply to units in a feeder fund.

Note Feeder fund is defined in the glossary.
(3) The operator of a QFC retail scheme must ensure that no more than 30% in value of the scheme property is invested under rule 7.4.6 (Investments in collective investment schemes generally—QFC retail schemes) in units in non-QFC retail customer schemes.

Note Non-QFC retail customer scheme is defined in r 1.4.1.
(4) However, subrule (3) does not apply to units in a feeder fund or fund of funds.

Note Fund of funds is defined in the glossary.
Derived from QFCRA RM/2010-05 (as from 1st January 2011)