CIS 16.5 Restrictions of business for UCITS management companies2

A UCITS management company must not engage in any activities other than:

1. (1)

   acting as:

   1. (a)

      authorised fund manager of an authorised fund; or

   2. (b)

      an operator of any other collective investment scheme for which the firm is subject to prudential supervision;

2. (2)

   activities for the purposes of or in connection with those in (1);

3. (3)

   collective portfolio management, including without limitation:

   1. (a)

      investment management;

   2. (b)

      administration:

      1. (i)

         legal and fund management accounting services;

      2. (ii)

         customer enquiries;

      3. (iii)

         valuation and pricing (including tax returns);

      4. (iv)

         regulatory compliance monitoring;

      5. (v)

         maintenance of Unitholder register;

      6. (vi)

         distribution of income;

      7. (vii)

         unit issues and redemptions;

      8. (viii)

         contract settlements (including certificate dispatch); and

      9. (ix)

         record keeping; and

   3. (c)

      marketing;

4. (4)

   managing investments where the relevant portfolio includes one or more ISD instruments;

5. (5)

   advising on investments where:

   1. (a)

      the firm has a permission for the activity in (4); and

   2. (b)

      each of the instruments is an ISD instrument; and

6. (6)

   safekeeping and administration of collective investment scheme units where the firm has a permission for the activity in (4).23