Examples of Unlisted Class in a sentence
Subject to the applicable requirements of the Code, the Manager may at any time increase the rate of Subscription Fee of an Unlisted Class or a Sub-Fund.
Redemption Fee The Manager may charge a Redemption Fee on the redemption of Unlisted Class Units of a percentage of either (i) the Redemption Fee per Unit; or (ii) the total redemption amount in relation to a redemption request, as the Manager may at its discretion determine.
Other types of sales or purchases or transfers of Unlisted Class Units by the Unitholders in a Sub-Fund should normally be liable to Hong Kong stamp duty of 0.26 per cent (equally borne by the buyer and the seller) on the higher of the consideration amount or market value and where instrument of transfer (if any) is executed in relation to any such sales or purchases or transfers, Hong Kong stamp duty is payable at the fixed rate of HK$5 on each instrument of transfer (if any) executed.
No Hong Kong stamp duty should be payable where the sale or transfer of the Unlisted Class Units is effected by selling the relevant Units back to the Manager, who then either extinguish the Unlisted Class Units or re-sells the Unlisted Class Units to another person within two months thereof.
The Manager may increase the rate of Redemption Fee payable for a Sub-Fund or an Unlisted Class up to the maximum disclosed rate by giving one month’s prior written notice to the Unitholders, subject to the applicable requirements of the Code.
The Redemption Fee will be deducted from the amount payable to a Unitholder in respect of the redemption of Unlisted Class Units.
For the avoidance of doubt, a lower maximum rate of Subscription Fee may be imposed in relation to the issue of Units of an Unlisted Class in a Sub-Fund as compared to other Sub-Funds and also in relation to different Unlisted Classes of a Sub-Fund.
For the avoidance of doubt, a lower maximum rate of Redemption Fee may be imposed in relation to the redemption of Unlisted Class Units of a Sub-Fund as compared to other Sub-Funds and also in relation to different Unlisted Classes of a Sub-Fund.
The redemption fee is deducted from the redemption proceeds payable to a Unitholder in respect of each Unlisted Class of Unit redeemed.
The switching fee is deducted from the amount realised from the redemption of the relevant Unlisted Class of Units and reinvested in the new Unlisted Class of Units of the same or another Sub-Fund.