Actions Recommend to industry either of the first two approaches. Approach EPU about the possibility of converting early. The unit price has to be expressed in the base currency of the fund which is defined in the Trust Deed. FSA regulations do allow unit prices to be expressed in another currency provided the fund manager is convinced that the conversion is fair. The second price would be the converted value of the base currency price.
Options Provide prices in currency of fund only other possible for dual display purposes.
Provide proper prices in both currencies and deal with the communication difficulties which arise. Actions Clarify legitimacy of providing proper prices in both currencies. The unit price has to be expressed in the base currency of the Oeic which is defined in the Instrument of Incorporation establishing it. It is possible to change the base currency of the Oeic by amending the Instrument of Incorporation, but this may require a meeting of shareholders. It is also possible to set up separate share classes in a single company where prices are expressed in different currencies.