Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)Board NoticesAdvertising, marketing and information disclosure requirements for collective investment schemesPart IV : Performance Disclosures11. Illustrative reporting of investment performance |
| (1) | A manager may— |
| (a) | use illustrative investment performance together with portfolio performance tables to show the effect of costs and other factors that impact investment performance; |
| (b) | not use illustrative investment performance for showing portfolio performance. |
| (2) | A manager must, in all illustrative investment performance reporting, disclose that— |
| (a) | the investment performance is for illustrative purposes only; |
| (b) | the investment performance is calculated by taking the actual initial fees and all ongoing fees into account for the amount shown; and |
| (c) | income is reinvested on the reinvestment date. |