IFR 6.7.1

(1) An Islamic Fund which is a Public Fund may invest in Units of another Fund only where the Fund Manager has taken reasonable care to determine that:
(a) the other Fund is the subject of an independent annual audit conducted in accordance with relevant IFRS or other standards as applicable;
(b) the other Fund has mechanisms in place to enable Unitholders to redeem their Units within a reasonable time; and
(c) the other Fund is prohibited from having more than 20% of its value in the Units of Funds.
(2) The Fund Manager must also have ascertained that there is a proper and disclosed basis for asset valuation and the pricing before investing in Units in the other Fund.
Derived from DFSA RM69/2010 (Made 1st March 2010). [VER1/03-10]
[Amended] DFSA RM72/2010 (Made 11th July 2010). [VER2/07-10]
[Amended] DFSA RM106/2012 (Made 23rd December 2012). [VER6/12-12]