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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

efficient portfolio management

    (in COLL137) techniques and instruments which relate to transferable securities and approved money-market instruments and which fulfil the following criteria:

      1. (a) they are economically appropriate in that they are realised in a cost effective way;
      1. (b) they are entered into for one or more of the following specific aims:
        1. (i) reduction of risk;
        1. (ii) reduction of cost;
        1. (iii) generation of additional capital or income for the scheme with a risk level which is consistent with the risk profile of the scheme and the risk diversification rules laid down in COLL.
        [Note: article 11 of the UCITS eligible assets Directive]137