Valuation procedure

(1) The capital management company must prepare an internal valuation policy. The valuation policy must lay down suitable and coherent procedures for the proper, transparent, and independent valuation of the assets of the investment fund. The valuation policy should provide that a suitable valuation procedure, recognised in the respective market, must be applied as the basis for each asset, and that the choice of procedure must be justified.
(2) The valuation of assets must be carried out impartially and with the requisite skill, care, and diligence.
(3) The criteria for the procedures for the proper valuation of assets and for calculating the net asset value per unit or share, and their consistent application, and the review of the procedures, methods, and calculations, are determined by Articles 67 to 74 of Delegated Regulation (EU) No 231/2013. Articles 67 to 74 of Delegated Regulation (EU) No 231/2013 apply correspondingly to the valuation procedure for domestic UCITS.