Net asset value computation for restricted schemes requires periodic valuation and documented methodologies, with modified frequency for close-ended schemes. Regulation 39 requires an FME to compute the net asset value (NAV) of every restricted scheme at least monthly from the month investment activities ... Summary
Net asset value computation for restricted schemes requires periodic valuation and documented methodologies, with modified frequency for close-ended schemes.
Regulation 39 requires an FME to compute the net asset value (NAV) of every restricted scheme at least monthly from the month investment activities commence. For a close-ended restricted scheme, NAV must be computed at least half-yearly. Where the FME has obtained prior investor approval, a close-ended scheme may compute NAV at least yearly from the relevant financial year. NAV calculation procedures and methodologies must be comprehensively documented, regularly verified, and amended where necessary.
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