Regulatory Alerts2023-09-12
Added · Updated
CIRCULAR No. 12/CREPMF/2022 on the Valuation of Collective Investment Undertakings and Their Assets
This Circular establishes mandatory valuation policies and procedures for Collective Investment Undertakings (CIUs) and their Management Companies within the UMOA regional financial market. It requires Management Companies to implement robust, transparent, and documented asset valuation methods, including the use of validated models and independent external experts where applicable. The document specifies that open-ended CIUs must calculate net asset value per share or unit at least annually, with more frequent valuations for financial instruments, and mandates periodic reviews to ensure accuracy and independence. External valuation experts must provide written professional guarantees regarding their technical resources, independence, and competence.
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