IFM13335 - Offshore Funds: participants in offshore funds: participants within the charge to income tax: reporting funds that are constant NAV funds
A 바카라 사이트śconstant NAV fund바카라 사이트ť (see Regulation 118) is an offshore fund whose net asset value (expressed in the currency in which units are issued) does not fluctuate by more than an insignificant amount throughout the fund바카라 사이트™s existence, as a result of the nature of the fund바카라 사이트™s assets, and the frequency with which the fund distributes its income. The distributions are treated as income of the investors for the year of assessment in which they are made.