Article 72 | Delegated Regulation 231/2013

Article 72 - Calculation of the net asset value per unit or share

Article 72

Calculation of the net asset value per unit or share

An AIFM shall ensure that for each AIF it manages the net asset value per unit or share is calculated on the occasion of each issue or subscription or redemption or cancellation of units or shares, but at least once a year.

An AIFM shall ensure that the procedures and the methodology for calculating the net asset value per unit or share are fully documented. The calculation procedures and methodologies and their application shall be subject to regular verification by the AIFM, and the documentation shall be amended accordingly.

An AIFM shall ensure that remedial procedures are in place in the event of an incorrect calculation of the net asset value.

An AIFM shall ensure that the number of units or shares in issue is subject to regular verification, at least as often as the unit or share price is calculated.

CHAPTER I - DEFINITIONS (Article 1)

CHAPTER II - GENERAL PROVISIONS (Article 2-15)

CHAPTER III - OPERATING CONDITIONS FOR AIFMs (Article 16-82)

SECTION 1 - General principles (Article 16-29)

SECTION 2 - Conflicts of interest (Article 30-37)

SECTION 3 - Risk management (Article 38-45)

SECTION 4 - Liquidity management (Article 46-49)

SECTION 5 - Investment in securitisation positions (Article 50-56)

SECTION 6 - Organisational requirements — general principles (Article 57-66)

SECTION 7 - Valuation (Article 67-74)Article 67 - Policies and procedures for the valuation of the assets of the AIF Article 68 - Use of models to value assets Article 69 - Consistent application of valuation policies and procedures Article 70 - Periodic review of valuation policies and procedures Article 71 - Review of individual values of assets Article 72 - Calculation of the net asset value per unit or share Q&A Article 73 - Professional guarantees Q&A Article 74 - Frequency of valuation of assets held by open-ended AIFs

SECTION 8 - Delegation of AIFM functions (Article 75-82)

CHAPTER IV - DEPOSITARY (Article 83-102)

CHAPTER V - TRANSPARENCY REQUIREMENTS, LEVERAGE, RULES RELATING TO THIRD COUNTRIES AND EXCHANGE OF INFORMATION ON THE POTENTIAL CONSEQUENCES OF AIFM ACTIVITY (Article 103-116)

CHAPTER VI - FINAL PROVISIONS (Article 117)

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Article 72 - Calculation of the net asset value per unit or share

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