Accredited investor status permits bilateral negotiation of exit loads for large value accredited investors, exempting standard exit-load rules. The circular confirms that 'accredited investor' adopts the AIF Regulations' definition and provides that for 'large value accredited investors' the quantum and manner of exit load shall be governed by bilaterally negotiated contractual terms between client and portfolio manager, rendering para 3(iv) of the February 13, 2020 Circular inapplicable to such clients while other provisions remain unchanged.
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Accredited investor status permits bilateral negotiation of exit loads for large value accredited investors, exempting standard exit-load rules.
The circular confirms that "accredited investor" adopts the AIF Regulations' definition and provides that for "large value accredited investors" the quantum and manner of exit load shall be governed by bilaterally negotiated contractual terms between client and portfolio manager, rendering para 3(iv) of the February 13, 2020 Circular inapplicable to such clients while other provisions remain unchanged.
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