Decision details

27.1     The Committee considered a report on Markets in Financial Instruments Directive (MiFID II).

27.2     The Committee RESOLVED to:

1.    Note the potential impact on investment strategy of becoming a retail client with effect from 3rd January 2018;

2.    agree to the immediate commencement of applications for elected professional client status with all relevant institutions in order to ensure it can continue to implement an effective investment strategy;

3.    acknowledge and agree to forgo the protections available to retail clients attached as Appendix 1; and

4.    agree to approve delegated responsibility to the Chief Finance Officer in consultation with the Chair for the purposes of completing the applications and achieving elective professional status for the Fund with effect from 3 January 2018.