ADVOKS GLOBAL · KENYA
The Capital Markets (Collective Investments Schemes) Regulations, 2023
54. Remuneration of fund manager
Edition: 2023-12-15 · In force
54. Remuneration of fund manager
(1)The only payment which may be made to the fund manager out of the assets of the scheme by way of remuneration for the fund manager’s services is a periodic charge arrived at and accruing under this regulation.(2)A periodic charge is payable only where the payment is authorised by and is calculable in an objective, fair and transparent manner which shall be set out in the scheme documents.(3)The fund manager may, at any time, and at the fund manager’s discretion, waive or rebate in full or any part of the amounts mentioned in subregulation (1) and shall report to the trustee any such changes and give the reasons thereof.(4)The fund manager shall disclose any other fees to be paid out of the assets of the schemes in the information memorandum.(5)Any increase in the fees disclosed in the information memorandum as fees to be paid to the fund manager shall require prior approval by the participants and the same shall be notified to the Authority.