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Fund of funds scheme restrictions: expense cap and investment limits imposed to protect unitholder interests. Defines fund of funds scheme as a mutual fund scheme investing primarily in schemes of the same mutual fund or other mutual funds. Requires the Chief Executive Officer to ensure regulatory compliance, unitholder interest investments, and overall risk management; requires fund managers to invest to achieve scheme objectives and in unitholders' interest. Establishes expense limits for fund of funds schemes, prohibits any mutual fund scheme from investing in a fund of funds, forbids fund of funds from investing in other fund of funds, and restricts investments to mutual fund schemes except for liquidity required for repurchases or redemptions disclosed in the offer document.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
<h1>Fund of funds scheme restrictions: expense cap and investment limits imposed to protect unitholder interests.</h1> Defines fund of funds scheme as a mutual fund scheme investing primarily in schemes of the same mutual fund or other mutual funds. Requires the Chief Executive Officer to ensure regulatory compliance, unitholder interest investments, and overall risk management; requires fund managers to invest to achieve scheme objectives and in unitholders' interest. Establishes expense limits for fund of funds schemes, prohibits any mutual fund scheme from investing in a fund of funds, forbids fund of funds from investing in other fund of funds, and restricts investments to mutual fund schemes except for liquidity required for repurchases or redemptions disclosed in the offer document.
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