CIR 8.6.1

(1) A Fund Manager of an Open-ended Fund must, within any conditions in its constitution and offer documents:
(a) at all times during the dealing day, be willing to issue or sell Units in the Fund to any eligible Client; and
(b) do so in a manner that is fair and reasonable as between all Unitholders and prospective Unitholders for whom the Fund Manager does not have reasonable grounds to refuse such issue or sale.
(2) A Fund Manager of an Open-ended Fund must, within any conditions in its constitution and offer documents:
(a) at all times during the dealing day, be willing to effect a redemption of the Units on the request of any Unitholder; and
(b) do so in a manner fair and reasonable as between redeeming Unitholders and continuing Unitholders.
(3) On agreeing to a redemption of Units within (2), the Fund Manager must pay the full proceeds of the redemption to the Unitholder within any reasonable period specified in the constitution and offer documents, unless it has reasonable grounds for withholding payment.
Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]
[Amended] DFSA RM218/2018 (Made 22nd February 2018) [VER23/12-18]