GUIDANCE ON BOARD NOTICE DEALING WITH ADVERTISING, MARKETING & DISCLOSURE OF COLLECTIVE INVESTMENT SCHEMES
Board Notice 92 of 2014 (BN 92), which prescribes the requirements for advertising, marketing and information disclosure of collective investment schemes, came into effect on 1 May 2015.
The FSB recently issued Guidance Note 10A, dealing with the interpretation and application of paragraph 8(2)(f) of BN 92. It relates to the reporting of highest and lowest performance in a given reporting period.
Where past performance is included in an advertisement or marketing material, the lowest actual annual performance and the highest actual annual performance figures within the longest of the periods reported on should be added.
The intention is to provide an indication of performance variability.
Alternatively, the regulator suggests that the compound annualised growth return may be accompanied by a table of annual returns for the period.
GET IN TOUCH
If you would like to find out more about the services that ICS offers please contact us.