| Professional Investors Fund Rules 2022 (PROF) |
PROF Chapter 1:
General |
PROF Part 1.1 Introductory |
| PROF Part 1.2 Concepts about professional investor funds |
PROF Chapter 2:
Key concepts |
PROF Part 2.1 Investors |
| PROF Part 2.2 Conduct by fund managers |
| PROF Part 2.3 Conduct by authorised firms |
PROF Chapter 3:
Fund managers |
PROF Part 3.1 Fund managers — general |
| PROF Part 3.2 QFC fund managers |
| PROF Part 3.3 State fund managers |
| PROF Part 3.4 Changing fund managers |
| PROF Part 3.5 Key personnel for QFC fund managers of professional investor funds |
PROF Chapter 4:
Registration process |
PROF 4.1.1 Application for registration |
| PROF 4.1.2 Decision on application for registration |
| PROF 4.1.3 Variation of conditions, restrictions or requirements |
PROF Chapter 5:
Fund documents |
PROF Part 5.1 Constitutional documents |
| PROF Part 5.2 Offer documents |
| PROF Part 5.3 General provisions applying to fund documents |
PROF Chapter 6:
Units |
PROF Part 6.1 Key concepts |
| PROF Part 6.2 Unit administration |
| PROF Part 6.3 Register of fund investors |
| PROF Part 6.4 Issue and redemption of units |
PROF Chapter 7:
Operating professional investor funds |
PROF Part 7.1 Conducting transactions |
| PROF Part 7.2 Protecting professional investor funds |
| PROF Part 7.3 Valuing and pricing |
| PROF Part 7.4 Dilution |
| PROF Part 7.5 Avoiding conflicts of interest |
| PROF Part 7.6 Suspension |
| PROF Part 7.7 Winding up |
| PROF Part 7.8 Business transfer schemes |
PROF Chapter 8:
Records, accounts and reports |
PROF Part 8.1 Key concepts |
| PROF Part 8.2 Records |
| PROF Part 8.3 Reports |
| PROF Part 8.4 Accounts |
| PROF Part 8.5 Fund managers’ reports |
| PROF Part 8.6 Audit |
PROF Chapter 9:
Islamic funds |
PROF 9.1.1 Islamic fund |
| PROF 9.1.2 Islamic fund must have Shari’a supervisory board |
PROF Chapter 10:
Fees |
PROF 10.1.1 Fees |
| PROF 10.1.2 Annual fees |
| PROF 10.1.3 Waiver, reduction and refund of fees |
PROF Chapter 11:
Other provisions |
PROF 11.1.1 Restitution orders for breach of relevant requirement |
| PROF 11.1.2 Requirement for notices |
| PROF 11.1.3 CDRS — fund investors for exempt professional investor funds not eligible to apply to Independent Adjudicator |
PROF Schedule 1:
Constitutional document content |
PROF S1.1 Name of professional investor fund |
| PROF S1.2 Information about professional investor fund |
| PROF S1.3 Islamic funds |
| PROF S1.4 Investment objectives and policy |
| PROF S1.5 Duration of limited funds |
| PROF S1.6 Statements of no liability for fund investors |
| PROF S1.7 Fees, charges and other expenses of fund |
| PROF S1.8 Classes of units |
| PROF S1.9 Income and capital distribution |
| PROF S1.10 Investment and borrowing restrictions |
| PROF S1.11 Management of borrowing risks |
| PROF S1.12 Valuation and pricing |
| PROF S1.13 Base currency |
| PROF S1.14 Functions of fund manager |
| PROF S1.15 Meetings |
| PROF S1.16 Other statements and provisions for professional investor funds that are companies |
| PROF S1.17 Other statements and provisions for professional investor funds that are partnerships |
| PROF S1.18 Assets other than cash for issue or redemption |
| PROF S1.19 Suspension and winding-up |
| PROF S1.20 Amendment of constitutional document |
| PROF S1.21 Documents evidencing title to units |
| PROF S1.22 Limits on unit issue and redemption |
| PROF S1.23 Conflicts of interest with affected persons |
| PROF S1.24 Fundamental and significant changes |
| PROF S1.25 Other relevant matters |
PROF Schedule 2:
Offer document content |
PROF S2.1 Contents of offer document |
| PROF S2.2 Mandatory statement about offer document |
| PROF S2.3 Fund directors and management |
| PROF S2.4 Details of entities involved with fund’s affairs |
| PROF S2.5 Document status |
| PROF S2.6 Additional information |
PROF Schedule 3:
Form of certified professional investor declaration |
| PROF Glossary |
