Article 106 Material changes

Any changes in information shall be deemed material within the meaning of F1rule 3.3.5(4) of the Investment Funds sourcebook if there is a substantial likelihood that a reasonable investor, becoming aware of such information, would reconsider its investment in the AIF, including because such information could impact an investor’s ability to exercise its rights in relation to its investment, or otherwise prejudice the interests of one or more investors in the AIF.

In order to comply with F2rule 3.3.5(4) of the Investment Funds sourcebook, AIFMs shall assess changes in the information referred to in F3section 3.2 of the Investment Funds sourcebook during the financial year in accordance with paragraph 1 of this Article.

Information shall be disclosed in line with the requirements of the accounting standards and accounting rules adopted by the AIF together with a description of any potential or anticipated impact on the AIF and, as the case may be, or investors in the AIF. Additional disclosures shall be made when compliance with specific requirements of the accounting standards and accounting rules may be insufficient to enable investors to understand the impact of the change.

Where the information required to be disclosed in accordance with paragraph 1 is not covered by the accounting standards applicable to an AIF, or its accounting rules, a description of the material change shall be provided together with any potential or anticipated impact on the AIF and, as the case may be, or investors in the AIF.