COLL 8.2.15 Issue and Redemption Prices—QFC Retail Schemes

The operator of a QFC retail scheme must not—

(a) issue a unit for more than the price of a unit in the relevant class at the relevant valuation point, plus—
(i) any issue charge permitted under rule 8.6.4 (Charges on buying and selling units—QFC retail schemes); and
(ii) any payments required under rule 8.2.16 (Dilution—QFC retail schemes); or
(b) redeem a unit for less than the price of a unit in the relevant class at the relevant valuation point, less—
(i) any redemption charge permitted under rule 8.6.4; and
(ii) any deductions required under rule 8.2.16.

Note Class, valuation point, issue charge and redemption charge are defined in the glossary.

Derived from QFCRA RM/2010-05 (as from 1st January 2011)