COLL S2.33 Primary Investment Objective Etc—QFC Money-Market Funds

(1) A statement that the scheme's primary investment objective is to maintain the scheme's net asset value.

Note Net asset value is defined in the glossary.
(2) The statement mentioned in subrule (1) must specify whether the scheme's net asset value is to be maintained—
(a) constant at par (net of earnings); or
(b) at the value of a participant's initial capital plus earnings.
(3) A statement that, with a view to achieving the scheme's primary investment objective, the scheme may invest only in—
(a) high quality approved money-market instruments; and
(b) on an ancillary basis, deposits with eligible banks.

Note 1 Approved money market instrument is defined in r 7.1.5.

Note 2 For the meaning of high quality approved money-market instrument, see the following:
•   r 6.1.5 (2) (Investments by money-market funds—QFC qualified investor schemes)
•   r 7.2.4 (2) (Investments by money-market funds— QFC retail schemes).
Note 3 Deposit and eligible bank are defined in the glossary.
Derived from QFCRA RM/2010-05 (as from 1st January 2011)