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.
Sets out the best practices that managers, approved trustees, VCC directors and VCC custodians of collective investment schemes offered to retail public are expected to observe on management, operation and marketing of the schemes.
Governs the regulation of activities and institutions in the securities and derivatives industry, including leveraged foreign exchange trading of financial benchmarks and of clearing facilities.