Taking too long? Close loading screen.
Generating

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.


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.

Leave a Comment