Regulation 30 Feeder funds and funds of funds: ability to hold cash and near cash

Notwithstanding the provisions of regulations 26 and 27, the property of a feeder fund and of a fund of funds may include cash and money in a current or deposit account which is near cash provided that the holding of such cash or near cash may reasonably be regarded as necessary in order to enable units to be redeemed or for the efficient management of the scheme in accordance with its object or for other purposes which may reasonably be regarded as ancillary to the object of the scheme.