ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investment Schemes) Regulations
21. Remuneration of a fund manager
Edition: 2022-12-31 · In force
21. Remuneration of a fund manager
(1)The fund manager shall be entitled by way of remuneration for its services and to cover expenses and fees in performing its obligations including obligations to pay the remuneration to the trustee and the trustee disbursements and the auditors fees and expenses but excluding expenses incurred by the fund manager or the trustee for the purpose of enabling the trust to conform to legislation passed after the date hereof the expenses whereof to be paid out of the collective investment scheme portfolio to receive the following amounts, namely:—(a)the initial charge referred to in Regulation 65(1); or(b)any charge disclosed in the information memorandum.(2)The fund manager may at any time at the fund manager's discretion waive or rebate in full or any part of the amounts mentioned in subregulation (1);Provided that the fund manager shall report to the trustee or board of directors any such changes and give the reasons therefor.