Heads up for the Investment funds sector – new UCITS and AIF bylaws as of 1 November 2024!
Croatian regulator HANFA adopted two completely new HANFA Bylaws in the UCITS and AIF regulated domain (Official Gazette: 89/2024). The Bylaws are scheduled to come into force on 1 November 2024.
The new Bylaws will, inter alia, provide for the new modalities on determining the net asset value of UCITS / AIF and the price of UCITS / AIF shares. In addition, they will primarily set out new valuation method of Forward Exchange Transactions and shall as well provide for somewhat different calculation of fees and reporting methods.
Although the new Bylaws generally still follow the wording of the currently applicable ones, the new amendments and wording differences, although subtle, call for attention and timely compliance.