The Capital Markets (Collective Investments Schemes) Regulations, 2023

125. Preparation of fund accounts

Edition: 2023-12-15 · In force

In preparation of financial statements of the fund—

(a)total returns shall be used, including dividend income, interest income and capital gains;

(b)assets and liabilities shall be recognized on the trade date and not the settlement date;

(c)accrual accounting shall be used for fixed-income securities and all other investments that earn interest income;

(d)any accrued income shall be included in the opening and closing portfolio values when performance is calculated;

(e)management, performance-based and other fees shall be accrued and

(f)dividend income shall be recognized as of the ex- dividend date.