Fund Manager must:
(a) ensure that the
Fund Property is valued at regular intervals as appropriate to the nature of the Fund, except where such valuation is suspended in any circumstances that are set out in the Fund's Constitution or Prospectus;
(b) prepare a valuation in accordance with (3) for each relevant type of
Unit at each relevant valuation point; and
(c) as soon as practicable after each valuation point, both publish and make available to the
Unitholders and prospective Unitholders of the Fund, the price of the Units of the Fund.
(2) The value of the
Fund Property is the net value of the Fund Property after deducting any expenses and outstanding borrowings, including any capital outstanding on a mortgage of any Real Property.
(3) The value of the
Fund Property must, except as otherwise provided in this section, be determined in accordance with the provisions of the Constitution and the Prospectus, as appropriate.
(4) For the purposes of (2), any charges that were paid, or would be payable, on acquiring or disposing of the asset must be excluded from the value of that asset.
Fund Manager must not make a dilution levy or dilution adjustment unless stated as permitted in the Fund's Prospectus. Such a measure must be applied in a fair manner to reduce dilution and solely for that purpose.
Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]