Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)

Board Notices

Advertising, marketing and information disclosure requirements for collective investment schemes

Part IV : Performance Disclosures

10. Ranking of portfolios
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(1)The general principle applicable to the ranking of portfolios with multiple classes of participatory interests is that only the most expensive class in each portfolio offered by the manager, and available for direct investment by members of the public, other than financial institutions, at the beginning of the reporting period, can be ranked.

 

(2)A manager may only advertise that a portfolio is highest in performance, if it is factually ranked the highest in performance of all portfolios in its relevant peer group.

 

(3)A manager may advertise ranking of a portfolio within a relevant peer group provided that—
(a)there are at least five portfolios in the relevant peer group, and
(b)the other portfolios may not be specifically named.