PRIV 6.2.4 Prices of Units

(1) The price of a unit in an open-ended scheme at a valuation point must be calculated by the operator—
(a) on the basis of the valuation under rule 6.2.3 (2) at the valuation point; and
(b) using forward prices and in a way that is fair and reasonable as between unitholders; and
(c) in a way that is otherwise in accordance with the constitutional document and the latest filed prospectus.

Note Open-ended scheme is defined in r 1.2.7 (1). Constitutional document is defined in r 3.1.1. Valuation point and latest filed prospectus are defined in the glossary.
(2) For an open-ended scheme, the operator must, on request at any time, provide to any unitholder the price of any class of unit in the scheme, based on the latest valuation under rule 6.2.3 (2).

Note Class is defined in the glossary.
(3) The price of a unit in a closed-ended scheme must be calculated by the operator in accordance with the constitutional document and the latest filed prospectus.

Note Closed-ended scheme is defined in r 1.2.7 (2).
(4) For a closed-ended scheme, the operator must, on request at any time, provide to any unitholder the most recently calculated net asset value per unit.

Note Closed-ended scheme is defined in r 1.2.7 (2). Net asset value per unit is defined in the glossary.
Derived from QFCRA RM/2010-06 (as from 1st January 2011)