Financial Markets Conduct Regulations 2014

71 Miscellaneous matters

(1)

If the category “unknown” or “other” is used in providing the information specified in clauses 68 to 70, the fund update must include, as a note to the relevant pie graph or table, an explanation of the nature of each of the assets included in that category.

(2)

A pie graph or table included under clause 68 or 69 must be based on the information that the manager judges to be the most appropriate to produce an accurate representation of the specified fund’s assets (and not on the concept of individual assets that is used for the purposes of providing the information about the specified fund’s 10 highest-value individual assets).

Example

If an underlying fund in which the specified fund invests is a US equities fund, then, for the purposes of the pie graph or table, the manager may judge the most appropriate classification of the specified fund’s holdings of that underlying fund to be international equities with an allowance for some cash held by the underlying fund.

(3)

The fund update must include a statement of the extent of currency hedging if that information is material information for the specified fund.

Schedule 4 clause 71(3): inserted, on 17 December 2015, by regulation 41(33) of the Financial Markets Conduct Amendment Regulations 2015 (LI 2015/276).