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Hazelview Securities Inc.

June 20, 2024 | Decision | 81-102, 81-101, 81-106 | Investment funds | https://www.osc.ca/en/securities-law/orders-rulings-decisions/hazelview-securities-inc

National Instrument 81-102 Investment Funds, ss. 15.3(2), 15.3(4)(c), 15.6(1)(a)(i), 15.6(1)(d), 15.8(2)(a.1), 15.8(3)(a.1), 15.1.1 and 19.1. National Instrument 81-101 Mutual Fund Prospectus Disclosure, ss. 2.1 and 6.1. Item 10(b) of Part B of Form 81-101F3 Contents of Simplified Prospectus. Item 5 of Part I of Form 81-101F3 Contents of Fund Facts Document. National Instrument 81-106 Investment Fund Continuous Disclosure, ss. 4.4 and 17.1. Items 3.1(7), 4.1(1), 4.1(2), 4.2(1), 4.3(1) and 4.3(2) of Part B and Items 3(1) and 4 of Part C of Form 81-106F1 Contents of Annual and Interim Management Report of Fund Performance.


CAUTION: Lexata's content was last updated in 2024 and may not reflect current securities regulatory requirements.

The Ontario Securities Commission granted Hazelview Alternative Real Estate Fund (the Fund) several exemptions from National Instrument 81-102 Investment Funds (NI 81-102) and related regulations. These exemptions allow the Fund to:

1. **Borrow Cash and Short Sell**: The Fund can borrow cash and short sell up to 100% of its net asset value (NAV), exceeding the usual 50% limit.
2. **Appoint Additional Custodians**: The Fund can appoint more than one custodian, provided they meet specific criteria.
3. **Use Past Performance Data**: The Fund can include past performance data from when it was offered on a prospectus-exempt basis in its sales communications, fund facts, and management reports, even though it hasn’t distributed securities under a simplified prospectus for 12 consecutive months.

These exemptions are subject to conditions ensuring compliance with certain sections of NI 81-102, NI 81-101 Mutual Fund Prospectus Disclosure, and NI 81-106 Investment Fund Continuous Disclosure. The decision aims to provide the Fund with greater operational flexibility while maintaining investor protection.

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