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- GR into force since 01/01/2024
- Article 411-123
Article 411-123 into force since
- Version into force since
CIS are required to determine their net asset value in accordance with the provisions of Articles 411-24 to 411-33. This net asset value shall be determined and published with a frequency that is suited to the nature of the financial instruments, contracts, securities and deposits held by the CIS.
CIS are required to publish the net asset value of their shares or units in an appropriate manner at least twice a month. However, the net asset value of shares or units may be published on a monthly basis, provided this does not impinge on the interests of shareholders or unitholders and subject to prior authorisation from the AMF.
The prospectus specifies the frequency with which the net asset value is compiled and published, as well as the reference calendar chosen.
Once the net asset value has been published, subscriptions and redemptions of CIS units or shares shall be carried out on the basis of this value, under the conditions set out in the prospectus.
The foregoing paragraph shall not apply where the UCITS or, where applicable, the investment management company publishes a net asset value under the conditions set out in the fourth to sixth paragraphs of Article 411-20.
This article applies to each subfund.
Head of publications: The Executive Director of AMF Communication Directorate. Contact: Communication Directorate – Autorité des marches financiers 17 place de la Bourse – 75082 Paris cedex 02