ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investments Schemes) Regulations, 2023
93. Redemption price parameters
Edition: 2023-12-15 · In force
93. Redemption price parameters
(1)A fund manager’s price for redemption of participatory interests shall not be less than the price notified to the trustee at the previous valuation point.(2)Where a fund manager levies an exit charge, this may be deducted from the proceeds when issuing the confirmation note to the participant.(3)In the case of an umbrella fund, the maximum price at which participatory interests in one constituent part may be held in exchange for participatory interests in another such part shall not exceed the relevant maximum issue price, less any preliminary charge, of the new participatory interests and the minimum price at which the old participatory interests may be taken in exchange shall not be less than the equivalent minimum redemption price.