+Article 19 2a.

Article 19 2a.

The rules or instruments of incorporation of an ELTIF may provide for the possibility, during the life of the ELTIF, of full or partial matching of transfer requests of units or shares of the ELTIF by exiting investors with transfer requests by potential investors, provided that all of the following conditions are fulfilled:

(a) 

the manager of the ELTIF has a policy for matching requests which clearly sets out all of the following:

(i) 

the transfer process for both exiting and potential investors;

(ii) 

the role of the manager of the ELTIF or the fund administrator in conducting transfers and in matching requests;

(iii) 

the periods of time during which exiting and potential investors are able to request the transfer of units or shares of the ELTIF;

(iv) 

the rules determining the execution price;

(v) 

the rules determining the pro-ration conditions;

(vi) 

the timing and the nature of the disclosure of information with respect to the transfer process;

(vii) 

the fees, costs and charges, if any, related to the transfer process;

(b) 

the policy and procedures for matching the requests of the ELTIF’s exiting investors with those of potential investors ensure that investors are treated fairly and that, where there is a mismatch between exiting and potential investors, matching is carried out on a pro rata basis;

(c) 

the matching of requests allows the manager of the ELTIF to monitor the liquidity risk of the ELTIF and the matching is compatible with the long-term investment strategy of the ELTIF.

1. Przegląd

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1.1 Odwołania

1.2 Zidentyfikowane wymagania

1.3 Powiązane normy

2. Zidentyfikowane wymagania

Wymagania

3. Powiązane normy

Normy