Article 36
Transparency
1.
An MMF shall indicate clearly which type of MMF it is in accordance with Article 3(1) and whether it is a short-term or a standard MMF in any external document, report, statement, advertisement, letter or any other written evidence issued by it or by the manager of the MMF, addressed to or intended for distribution to prospective investors, unit-holders, or shareholders.
2.
The manager of an MMF shall, at least weekly, make all of the following information available to the MMF's investors:
(a)
the maturity breakdown of the portfolio of the MMF;
(b)
the credit profile of the MMF;
(d)
details of the 10 largest holdings in the MMF, including the name, country, maturity and asset type, and the counterparty in the case of repurchase and reverse repurchase agreements;
(e)
the total value of the assets of the MMF;
(f)
the net yield of the MMF.
3.
Any document of an MMF used for marketing purposes shall clearly include all of the following statements:
(a)
that the MMF is not a guaranteed investment;
(b)
that an investment in MMFs is different from an investment in deposits, with particular reference to the risk that the principal invested in an MMF is capable of fluctuation;
(c)
that the MMF does not rely on external support for guaranteeing the liquidity of the MMF or stabilising the NAV per unit or share;
(d)
that the risk of loss of the principal is to be borne by the investor.
4.
No communication by the MMF or by the manager of an MMF to investors or potential investors shall in any way suggest that an investment in the units or shares of the MMF is guaranteed.
5.
Investors in an MMF shall be clearly informed of the method or methods used by the MMF to value the assets of the MMF and calculate the NAV.
Public debt CNAV MMFs and LVNAV MMFs shall explain clearly to investors and potential investors any use of the amortised cost method or of rounding or both.