Uniform calculation of sale and repurchase price mandates loads applied to NAV and standard rounding for NAV disclosure. Loads must be charged as a percentage of Net Asset Value and applied to NAV to calculate transaction prices: Sale Price = Applicable NAV x (1 + Sales Load) and Repurchase Price = Applicable NAV x (1 - Exit Load). Offer documents must disclose this method and illustrate by example. NAV rounding is standardized to four decimal places for liquid/money market schemes and two decimal places for other schemes, and these disclosures must be included in new and updated offer documents.
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Provisions expressly mentioned in the judgment/order text.
Uniform calculation of sale and repurchase price mandates loads applied to NAV and standard rounding for NAV disclosure.
Loads must be charged as a percentage of Net Asset Value and applied to NAV to calculate transaction prices: Sale Price = Applicable NAV x (1 + Sales Load) and Repurchase Price = Applicable NAV x (1 - Exit Load). Offer documents must disclose this method and illustrate by example. NAV rounding is standardized to four decimal places for liquid/money market schemes and two decimal places for other schemes, and these disclosures must be included in new and updated offer documents.
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