Global Fund Prospectus - Jupiter Asset Management

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THE JUPITER GLOBAL FUNDHow to Subscribe, Convert and Redeem■■How to Subscribe, Convert and RedeemThe value of such assets shall be determined as follows:continued(v)(vi)units or shares in open-ended investment funds shall be valuedat their last available net asset value reduced by any applicableredemption charge;the value of money market instruments neither listed or dealt inon a stock exchange nor dealt in on any other Regulated Marketshall be based on the nominal value plus any accrued interest oran amortised cost basis;(vii) in the event that the above mentioned calculation methods areinappropriate or misleading, the Directors may adjust the valueof any investment or permit another method of valuation to beused for the assets of the Company; and(viii) in circumstances where the interests of the Company or itsShareholders so justify (for example, the avoidance of markettiming practices), the Directors may take appropriate measures,such as applying a fair value pricing methodology, to adjust thevalue of the Company’s assets.The liabilities of the Company shall be deemed to include:(i)all loans, bills and accounts payable;(ii) all accrued or payable administrative expenses (includingmanagement and advisory fees, custodian fee and corporateagents’ fee as well as the costs of incorporation and registration,legal publications and prospectus printing, financial reports andother documents made available to Shareholders, marketingand advertisement costs);(iii) all known liabilities, present and future, including all maturedcontractual obligations for payments of money or property, includingthe amount of any unpaid dividends declared by the Companywhere the Valuation Day falls on the record date for determinationof the persons entitled thereto, or is subsequent thereto;(iv)(v)an appropriate provision for future taxes based on capital andincome to the Valuation Day, as determined from time to time bythe Company, and other reserves (if any) authorised andapproved by the Directors; andall other liabilities of the Company of whatsoever kind and natureexcept liabilities represented by Shares in the relevant Fund. Indetermining the amount of such liabilities the Company maycalculate administrative and other expenses of a regular orrecurring nature on an estimated figure for yearly or otherperiods in advance, and may accrue the same in equalproportions over any such period.In calculating the Net Asset Value, the Administrator may rely uponsuch automatic pricing services as it shall determine or, if so instructedby the Company, the Management Company or the InvestmentManager, it may use information provided by particular pricingservices, brokers, market makers or other intermediaries. In suchcircumstances, the Administrator shall not, in the absence of fraud,negligence or wilful default on the part of the Administrator, be liablefor any loss suffered by the Company or any Shareholder by reason ofany error in the calculation of the Net Asset Value resulting from anyinaccuracy in the information provided by any such pricing service,broker, market maker or other intermediary.Suspension of Dealings in SharesThe Directors may suspend the determination of the Net Asset Valueof any Fund and the issue and redemption of any Fund’s Shares toand from its Shareholders and the conversion from and to Shares ofthe relevant Fund during:(i)(ii)any period when any of the principal stock exchanges or marketson which any substantial portion of the investments of theCompany attributable to such Fund are quoted or dealt in areclosed otherwise than for ordinary holidays, or during whichdealings therein are restricted or suspended; orthe existence of any state of affairs which constitutes anemergency as a result of which disposals or valuation of assetsowned by the Company attributable to such Fund would beimpracticable; or(iii) any breakdown in or restriction in the use of the means ofcommunication normally employed in determining the price orvalue of any of the investments attributable to such Fund or thecurrent price or values on any stock exchange; or(iv)(v)(vi)(vii)any period when the Company is unable to repatriate monies forthe purpose of making payments on the redemption of suchShares or during which any transfer of funds involved in therealisation or acquisition of investments or payments due onredemption of such Shares cannot in the opinion of the Directorsbe effected at normal rates of exchange; orany period when, in the opinion of the Directors, there existunusual circumstances where it would be impracticable or unfairtowards the Shareholders to continue dealing in the Shares ofany Fund of the Company; orany period, if the Directors so decide and if the Company or therelevant Fund is being or may be wound up, commencing on orfollowing the date on which notice is given of the general meetingof Shareholders at which a resolution to wind up the Company orthe relevant Fund is to be proposed; orany period when the Net Asset Value of any subsidiary of theCompany cannot be accurately determined.No Share of such a Fund may be issued or redeemed and noconversion of Shares can be made to or from such Fund during suchperiod of suspension. Notice of any suspension will be published in aLuxembourg newspaper and in such other newspapers as theDirectors may from time to time determine. Any person applying forthe issue, redemption or conversion of Shares of such a Fund willpromptly be informed upon making such application. During any suchperiod of suspension, Shareholders who have applied for the issue,redemption or conversion of Shares of any such Fund may revoketheir application. In the absence of such revocation, the Subscriptionor Redemption Price or relevant NAV per Share shall be based on thefirst calculation of NAV made after the expiration of such period ofsuspension or deferral.The suspension in dealing in Shares in any one Fund will have noeffect on the calculation of the NAV per Share, the issue, redemptionand conversion of the Shares of any other Fund.15
THE JUPITER GLOBAL FUNDInvestment Restrictions■■Investment RestrictionsThe Directors shall, based upon the principle of spreading of risks,have power to determine the investment policy for the investments ofeach Fund. Except to the extent that more restrictive rules are providedfor in connection with a specific Fund as set out in the relevantInformation Sheet for that Fund, the investment policy shall complywith the rules and restrictions set out below.1. (a) Investments in the Funds may consist of:(i)(ii)(iii)(iv)(v)Transferable Securities and money market instrumentsadmitted to official listing on a Stock Exchange; and/orTransferable Securities and money market instrumentsdealt in on another Regulated Market; and/orRecently issued Transferable Securities and money marketinstruments, provided that the terms of issue include anundertaking that application will be made for admission toofficial listing on a Regulated Market and such admission issecured within a year of the issue; and/orUnits of UCITS authorised according to the UCITSDirective and/or other undertakings for collectiveinvestment (‘UCI’) within the meaning of the first andsecond indent of article 1, paragraph (2) of the UCITSDirective, whether situated in a member state of the EU(‘an EU Member State’) or not, provided that:• such other UCIs have been authorised under the lawsof any member country of the European Union orunder the laws of those countries provided that theyare subject to supervision considered by the CSSF tobe equivalent to that laid down in European Communitylaw and that cooperation between authorities issufficiently ensured; or• the level of protection for unitholders in such otherUCIs is equivalent to that provided for unitholders in aUCITS, and in particular that the rules on assetssegregation, borrowing, lending, and uncovered salesof Transferable Securities and money marketinstruments are equivalent to the requirements of theamended UCITS Directive;• the business of such other UCIs is reported inhalf-yearly and annual reports to enable an assessmentof the assets and liabilities, income and operationsover the reporting period;• no more than 10% of the assets of the UCITS or of theother UCIs, whose acquisition is contemplated, can,according to their constitutional documents, inaggregate be invested in units of other UCITS or otherUCIs; and/orDeposits with credit institutions which are repayable ondemand or have the right to be withdrawn, and maturing inno more that 12 months, provided that the credit institutionhas its registered office in a country which is an EUMember State or if the registered office of the creditinstitution is situated in a non-EU Member State providedthat it is subject to prudential rules considered by theLuxembourg regulator as equivalent to those laid down inEuropean Community law; and/or(vi)and/or(vii)Financial derivative instruments, including equivalentcash-settled instruments, dealt in on a Regulated Marketreferred to in sub-paragraphs (i) and (ii) above, and/orfinancial derivative instruments dealt in over-the-counter(‘OTC derivatives’), provided that:• the underlying consists of instruments covered by thissection (1) (a), financial indices, interest rates, foreignexchange rates or currencies, in which the Funds mayinvest according to their investment objective;• the counterparties to OTC derivative transactions areinstitutions subject to prudential supervision, andbelonging to the categories approved by theLuxembourg supervisory authority;• the OTC derivatives are subject to reliable andverifiable valuation on a daily basis and can be sold,liquidated or closed by an offsetting transaction at anytime at their fair value at the Board’s initiative;Money market instruments other than those dealt in on aRegulated Market, if the issue or the issuer of suchinstruments are themselves regulated for the purpose ofprotecting investors and savings, and provided that suchinstruments are:(a) issued or guaranteed by a central, regional or localauthority or by a central bank of an EU Member State,the European Central Bank, the EU or the EuropeanInvestment Bank, a non-EU Member State or, in thecase of a Federal State, by one of the members makingup the federation, or by a public international body towhich one or more EU Member States belong; or(b) issued by an undertaking, any securities of which aredealt in on Regulated Markets referred to in (1) (a) (i)and (ii) above; or(c) issued or guaranteed by an establishment subject toprudential supervision, in accordance with criteriadefined by Community law, or by an establishmentwhich is subject to and complies with prudential rulesconsidered by the Luxembourg regulator to be at leastas stringent as those laid down by Community law; or(d) issued by other bodies belonging to the categoriesapproved by the CSSF provided that investments insuch instruments are subject to investor protectionequivalent to that laid down in (a), (b) or (c) above andprovided that the issuer is a company whose capitaland reserves amount to at least 10 million Euro (EUR10,000,000) and which presents and publishes itsannual accounts in accordance with the fourth Directive78/660/EEC, is an entity which, within a group ofcompanies, is dedicated to the financing of the groupor is an entity which is dedicated to the financing ofsecuritisation vehicles which benefit from a bankingliquidity line.(b) Each Fund may invest a maximum of 10% of its net assets inTransferable Securities and money market instruments otherthan those referred to under (a) above.16
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Global Fund Prospectus - Jupiter Asset Management

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