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Book IV - Collective investment products
Title II - AIFS
Chapter II - Funds open to retail investors
Section 1 - Retail investment funds
Sub-section 4 - Calculation of aggregate risk
Paragraph 1 - Measurement of aggregate risk for retail investment funds in relation to financial contracts
Sub-paragraph 1 - General provisions
Article 422-51 from 21/12/2013

Article 422-51 into force since

  • Version into force since
ELI : /en/eli/fr/aai/amf/rg/article/422-51/20131221/notes

I. - The asset management company shall calculate at least once a day the aggregate risk of retail investment funds that it manages. If necessary, and depending on the retail investment fund investment strategy, the asset management company may calculate the aggregate risk of retail investment funds several times a day.

The established aggregate risk limits shall be observed at all times.

II. - The aggregate risk of retail investment funds shall correspond to either of the following values:

  1. Total exposure and leverage of the retail investment fund through financial contracts; this may not exceed the net assets of the retail investment fund;

  2. Market risk for the retail investment fund portfolio.