As a listed fund, there are three main routes to markets, the Premium Segment of the Main Market, the Specialist Fund Segment of the Main Market and AIM.
|Ongoing obligations||Premium Main Market||SFS||AIM|
|Sponsor/NOMAD||Sponsor, for certain transactions||☓||NOMAD, retained at all times|
|Annual financial report||✔||✔||✔|
|Half-yearly financial report||✔||✔||✔|
|Publication of inside information as soon as possible||✔||✔||✔|
|Drawing up and maintaining an Insider List||✔||✔||✔|
|Major shareholder notification regime||✔||✔||✔|
|UK Corporate Governance Code||✔||☓||Best practice|
|Pre-emption rights||✔||As per company law||As per company law|
|Significant transactions||✔ (if outside investment strategy)||☓||☓|
Prospectus/document for further issues
(>20% shares of same class admitted to trading)
|✔||✔||If PD thresholds triggered|
|Changes to investment policy||Shareholder approval for material changes||No specific requirements||Shareholder approval for material changes|
Dedicated to closed-ended funds targeting retail and institutional investors.
Dedicated to specialist, closed-ended investment funds for professional investors.
For straightforward closed-ended fund structures seeking retail and institutional investors.