Is this a daily dealing fund?
Retail classes (PAIF classes A to D and the Feeder Fund) allow subscription and redemption on any UK business day. The retail classes are ‘non-complex’ for MiFID II purposes.
Institutional classes (PAIF classes E to G) can also be purchased daily. However, redemptions are restricted to the first business day of a calendar quarter, with 1 month prior notice to redeem class G, and 3 months to redeem classes E or F. The institutional classes are ‘complex’ for MiFID II purposes on account of their limited redemption terms.