Circulars
Published Date: 27 July 2020

CMI 32/2020 Good Practices for Disclosure of Actively Managed Funds

This circular sets out good disclosure practices for actively managed funds, following a thematic review carried out by the Monetary Authority of Singapore (MAS) on equity funds offered to retail investors. These good practices relate to disclosures of the investment objective and the extent to which the portfolio deviates, or can deviate from the reference benchmark, as measured in part by quantitative metrics such as active share and tracking error.