Statistics Act, 1999
R 385
Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)Board NoticesAdvertising, marketing and information disclosure requirements for collective investment schemesPart IV : Performance Disclosures9. Publishing of performance |
| (1) | A manager must ensure that— |
| (a) | publishing of performance of a portfolio is based on performance calculations which are done on a NAV to NAV basis over all reporting periods; provided that where a NAV is not available, the value used to calculate the performance and which was agreed with the trustee must be clearly stated and a description of how the figures were calculated must be provided; |
| (b) | reinvestment of income is calculated on the actual amount distributed per participatory interest, using the ex-dividend date NAV price of the applicable class of the portfolio, irrespective of the actual reinvestment date; |
| (c) | all publication of performance is accompanied by a disclosure indicating that the performance is calculated for the portfolio, as well as that the individual investor performance may differ as a result of initial fees, the actual investment date, the date of reinvestment and dividend withholding tax. |
| (2) | Where a manager has changed the manner and method of publishing performance, the manager must include notification to that effect in the three subsequent MDD documents. |
