Section 117
of Securities Markets Regulations, 2015
Section 117
(l)
An annual report on a collective investment scheme, which is not an umbrella collective investment scheme, must contain -
(a}
the full audited accounts for the annual accounting period;
(b}
the report of the auditor in accordance with these Regulations;
(c}
the report of the operator in accordance with these Regulations;
and
(d} if the collective investment scheme is a public collective investment scheme, the comparative table in accordance with regulation 121;
(e} if the collective investment scheme is a private collective investment scheme, a statement on the performance of the collective investment scheme in accordance with the constitution and prospectus;
(fJ if the collective investment scheme is a public collective investment scheme, the report in accordance with regulation 122 of the person providing oversight of the collective investment scheme;
(g} if the collective invesfment scheme is an Islamic collective investment scheme, the report of the syariah advisory body which conforms to such requirements as may be determined by the Authority; and
(h}
if the collective investment scheme is an investment trust, the report of the trustee in accordance with regulation 122.
(2)
An annual report on a collective investment scheme, which is an umbrella collective investment scheme, must contain -
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(a} for each sub-collective investment scheme
(i)
the full audited accounts for the annual accounting period;
(ii)
the report of the operator in accordance with regulation 120;
(iii)
if the collective investment scheme is a public collective investment scheme, the comparative table in accordance with regulation 121; or
(iv)
if the collective investment scheme is a private collective investment scheme, a statement on the performance of the sub-collective investment scheme in accordance with the constitution and prospectus;
{b} an aggregation of the accounts required by paragraph (a}(i) for each sub-collective investment scheme;
{c}
the report of the auditor in accordance with regulation 122; and
(d}
ff the collective investment scheme is a public collective investment scheme, the report in accordance with regulation 121 of the person providing oversight of the collective investment scheme.
(3)
Where a collective investment scheme is required to appoint an investment committee, the annual report must include a report by that committee.
(4)
Where a collective investment scheme 1s a hedge fund, the annual report must include a report of its custodian.
of
(5)
The operator must ensure that the accounts give a true and fair view
(a} the net income, the net gains and the losses on the collective investment scheme property;
(b}
the sub-collective investment scheme for the annual accounting period in question; and
(c} the financial position of the collective investment scheme or sub-collective investment scheme as at the end of that period.
Interim report requirement.