This provides a summary only of the listing conditions of the ISE for closed ended investment funds. In addition to the listing conditions imposed by the ISE, an applicant must also comply with its obligations under the Market Abuse Directive & the Transparency Directive. The complete set of listing requirements and ongoing obligations are available from (The Publications section).
Each listed fund should adhere to the following ongoing obligations of the ISE once listed:
- A listed fund has a general obligation of disclosure to notify the ISE’s Companies Announcements Office immediately of material new developments or operational changes and any material change in performance or financial position;
- A listed fund must issue an annual report and accounts, an interim report and two interim management statements during its financial year. The content and timing of these reports and statements are set down in the Transparency Directive.
- A listed fund must announce alterations to capital structure, new issues of debt securities, changes of rights attaching to listed units or issues affecting conversion rights.
- A listed fund must notify the ISE’s Companies Announcement Office of details in relation to controlling shareholders, directors’ and investment manager’s interests, and details on acquisition or disposal of major shareholdings.