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CIS 2.8 Guarantees and Capital Protection

Application

CIS 2.8.1R

This section (CIS 2.8) applies to authorised fund managers and depositaries.1

Conflicts of interest

CIS 2.8.2R

If there is any arrangement intended to result in a particular capital or income return from a holding of units in an authorised fund, or any investment objective of giving protection to the capital value of, or income return from, such a holding, that arrangement or protection must not be such as to cause the possibility of a conflict of interests as between:

  1. (1)

    holders and the authorised fund manager or depositary; or

  2. (2)

    holders intended to benefit from the arrangement and holders not intended to benefit from the arrangement.1