Guidance Notes for E-Filing of Statistical Data

Page 1 of 16 SECURITIES COMMISSION OF THE BAHAMAS GUIDANCE NOTES E-FILING OF STATISTICAL DATA The Securities Commission of The Bahamas (the “Commission”) issues these Guidance Notes to assist Fund Administrators and Operators in the use of the Electronic Filing (E-Filing) System. This Facility was established to enhance the updating of statistical data on the activities of investment funds pursuant to Section 51 of the Investment Funds Act, 2003. Special Notes for the 30 June 2018 Period Note: The facility is compatible with the following browsers ONLY: Mozilla Firefox, Google Chrome and Internet Explorer 10 or higher. Note: Filers are required to submit data for the period from 1 January to 30 June 2018. Note: Please pay close attention to those instructions in bold, italic, underlined, and in red font with an asterisk. Note: Filers now have the ability to edit records if an error has occurred.

Page 2 of 16 Note: Service Providers may file data on behalf of an operator; however, the latter maintains responsibility for the submission of the requested data. Additionally, the submission of statistical data does not satisfy a fund’s statutory requirements for ongoing reporting requirements. (E.g. submission of audited financials or performance reports.) 30 June 2018 Filing Period For the period from 1 January to 30 June 2018, data on funds are required to be filed if the Fund:  Was established between 1 January to 30 June 2018;  Is currently active or was active during the period;  Was licensed but not launched during the period; o The “Fund Activity” section for funds that have not launched should still be completed and filled out with zeros (0).  Had a change in status between 1 January to 30 June 2018; or  Status was liquidating before 1 January 2018 and the fund is still liquidating. o Be sure to fill in the last NAV calculated for the current NAV and give the date of the last NAV calculated.

1. Overview of 30 June 2018 Period

The sign-in screen is seen below. Your username and password have been provided by the Commission. If you have trouble logging in or do not have a username or password, please contact the Investment Funds Unit, Supervision Department of the Commission.

Page 3 of 16 2. Viewing Data from Previous Filing Periods 2.1 The information that was previously submitted is displayed for the years 2010 to the present. Information submitted for earlier reporting periods is archived and is not viewable. Please note that fund activity provided for periods prior to June 2018 cannot be modified or changed. 3. General Overview of the E-Filing Features/Tools 3.1 Once you sign into the website, the Administrator/Fund Operator, Fund and Sub-fund sections will be on the front page. These sections are highlighted in yellow below. 3.2 The Administrator/Fund Operator’s information is captured in the e-filing facility under the ‘Administrator/Fund Operator’ section. This section can now be edited by the filer if an error has occurred. Please note that a new column ‘Assets under Management’ has been added.

Page 4 of 16 ↑ 3.3 The following describes the tools used to navigate the sections titled ‘Additional Administrator Details’, ‘Fund Details’, ‘Fund Activity’, and SMART Fund Activity. 3.4 To conduct a query, click on the ‘flashlight icon’ located on the upper left hand corner of each tier. The dialog box that pops up will allow you to conduct a search for a single entry or multiple entries. (See diagrams below).

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Page 6 of 16 3.5 To insert a new record, click the ‘insert’ button. A dialog box will appear and prompt you to enter all information for these sections. In the case of inserting new funds (in Fund Details and Fund Activity), click the ‘new fund’ button (See diagrams below). ↓

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Page 7 of 16 ↑ ↑ ↑ When finished entering all data, click the ‘disk icon’ to save the changes made. Selecting ‘x and pencil icon’ will invalidate any changes made and reset all fields in the dialogue box to blank values. Selecting ‘x in the left lower corner’ will discard all changes and return you to the main screen. To make changes or corrections to information that you have already entered for this reporting period click the actual record to make necessary changes and then

Page 8 of 16 save. For example, use this feature to correct a mistake made to any of the fields after the information has been submitted. 4. Field descriptions and instructions by section for Additional Administrator Details, Fund Details, SMART Fund Activity, Fund Activity, Sub-Fund Details, and Sub-Fund Activity 4.1 ADDITIONAL ADMINISTRATOR DETAILS 4.1.1 The ‘Additional Administrator Details’ section was created to capture the following data: (a) The first and last name of the person filing the data, the job title and email address of the individual, and the organization with whom that individual is employed. (b) The first and last name of the supervisor/ manager that authorized the individual in (a) to file the data, the job title and email address of the individual, and the reporting period. *This section must be updated for each period even if the individuals do not change for the period under review. 4.2 FUND DETAILS 4.2.1 Fund Name - Insert the full legal name of the fund as of 30 June 2018. *Inputting the Fund’s name is mandatory before filing any other information for the Fund. 4.2.2 License Type: Use the drop down menu to select the category under which the Fund is licensed or registered – Standard Fund, Recognized Foreign Fund, Professional Fund, or a SMART Fund.

1. If a fund’s license type is a Recognized Foreign Fund, the primary location of the fund’s administrative services must be entered in the Comments Section.

Page 9 of 16 2. If a fund’s license type is a SMART Fund, select Yes or No from the field in 4.3.1 to indicate if the fund’s annual audit is waived. 3. If Yes is selected in (2) above, mandatory data is required to be entered in the SMART Fund Activity section. See Section 4.3 4.2.3 License Number: Insert the number as reflected on the Fund’s certificate of registration or license issued by the licensor (the Commission or the Administrator). Do not use numbers on certificates issued by the Registrar of Companies such as the Certificate of Incorporation, or Certificate of Good Standing. 4.2.4 License Date: Insert the date shown on the Fund’s certificate of registration or license issued by the licensor (the Commission or the Administrator). 4.2.5 Status: Select from the drop down menu the status of the Fund at the end of the reporting period, as at 30 June 2018 – (active, dormant, liquidating, not launched, or closed). 4.2.6 Status Changed Date: If the status of the Fund has changed during the reporting period, indicate the date of the Fund’s status change. For example, indicate the date that the Fund’s status changed from active to liquidating and/or from liquidating to closed. 4.2.7 Constitution Type: Use the drop down menu to indicate the Fund’s constitution type as shown on the fund’s certificate of registration. The following options are available:

1. Company  Domestic Company  International Business Company  Segregated Accounts Company
2. Partnership  Limited Liability  Exempt Partnership  Common Law

Page 10 of 16 3. Trust  Unit Trust 4.2.8 Geographical Areas: Use the drop down menu to indicate the geographical area in which the Fund is located. 4.2.9 Investment Managers and Investment Advisors: Enter the full legal name of the Investment Manager or Investment Advisor as at 30 June 2018. 4.2.10 Number of Investors: Indicate the number of investors that have invested in the Fund. 4.2.11 Fund Structure: Select from the drop-down menu any of the following structures:  Umbrella Fund  Fund of Funds  Master-Feeder Fund 4.2.12 Underlying Instruments: Select from the drop-down menu what the underlying instruments of the Fund are. 4.2.12 Other Underlying: In this section any other underlying instrument can be listed here if it’s not listed in the previous section. 4.2.13 Market Sectors: Select from the drop-down menu 4.2.14 Fund Year-End: Select from the drop-down menu indicating the Fund’s year-end. 4.2.15 Material Changes/Comments: Please provide any material changes or comments that relate to the Fund in this section. 4.2.16 Id and Admin Id: The data for both fields are automatically generated by the system and does not require input from filer.

Page 11 of 16 4.3 FUND ACTIVITY Enter all data as at 30 June 2018. 4.3.1 Total NAV Previous US: Insert the total net asset value for the Fund at the end date of the previous reporting period. If there is no previous reporting period, insert the net asset value of the Fund for the date operations commenced; if there was no other net asset value prior to that reported for the current please fill in this section with a zero (0). The value entered should be in millions of US dollars to four decimal places. *For example: 1) if the NAV is $12,000,000 enter 12.0000; 2) if the NAV is $15,862,000 enter 15.8620; 3) if the NAV $950,840 enter 0.9508. If it is a billion dollar value, for example $16,825,340,000, enter 16,825.3400. 4.3.2 Total NAV Current US Insert the total net asset value of the Fund at the end of the present reporting period. The value entered should be in millions of US dollars to four decimal places. *For example: 1) if the NAV is $12,000,000 enter 12.0000; 2) if the NAV is $15,862,000 enter 15.8620; 3) if the NAV $950,840 enter 0.9508. If it is a billion dollar value, for example $16,825,340,000, enter 16,825.3400. If the Fund was not launched or was not active during both periods, please enter zero (0). If the Fund changed its status between the months of 1 January to 30 June 2018, insert the most recent NAV and use the “Date NAV Calculated” field to indicate the date the NAV was calculated. 4.3.3 Net Increase/Decrease: This value is calculated automatically. This field captures the difference between the net assets held at the end date of the previous reporting period and the total net assets at end of the current reporting period. This may be a negative number.

Page 12 of 16 4.3.4 Shares Outstanding: Enter here the number of shares that have been subscribed. 4.3.5 NAV/Share: Value is calculated automatically. This field captures the current total net asset value divided by the number of shares outstanding. 4.3.6 Date NAV Calculated: Use the calendar provided to indicate the date of the Fund’s NAV calculation. 4.3.7 Trading Suspended: Filers are required to advise if the Fund has suspended trading or not. Select yes or no from the drop down menu.

1. Date Suspended: If ‘Yes’ is selected in 4.4.8, use the calendar to indicate the date that the Fund has suspended its trading.
2. Date Resumed: Use the calendar to indicate the date that a Fund has resumed its trading or future-date. 4.3.8 For Period: Select from the drop-down menu the period for which the data applies to. 4.3.9 ID and FundID: The data for both fields are automatically generated by the system and does not require input from filer. 4.4. SMART FUND ACTIVITY 4.4.1 Annual Audit Waived: Select Yes or No from the drop-down menu. If “Yes” is selected, the smart fund activity MUST be completed. If the Fund changed its status between the months of 1 January to 30 June 2018, insert the most recent NAV and use the “Date NAV Calculated” field to indicate the date the NAV was calculated. Refer to ‘The Investment Funds (SMART Fund) Rules, 2003’ for more information. The Information below is to be completed if the Fund is a SMART Fund whose annual audit of financial statements is waived. Please be reminded to enter data as at 30 June 2018.

Page 13 of 16 4.4.2 Units Sold (Subscriptions): Insert the total purchases of shares for the Fund. 4.4.3 Values of Units Sold (Subscriptions): Insert the total value/dollar amount of the purchase of shares for a Fund. The value entered should be in millions of US dollars to four decimal places. *For example: 1) if the NAV is $12,000,000 enter 12.0000; 2) if the NAV is $15,862,000 enter 15.8620; 3) if the NAV $950,840 enter 0.9508. If it is a billion dollar value, for example $16,825,340,000, enter 16,825.3400. 4.4.4 Units Redeemed (Redemptions): Insert the total sales of shares. The value entered should be in millions of US dollars to four decimal places. *For example: 1) if the NAV is $12,000,000 enter 12.0000; 2) if the NAV is $15,862,000 enter 15.8620; 3) if the NAV $950,840 enter 0.9508. If it is a billion dollar value, for example $16,825,340,000, enter 16,825.3400. 4.4.5 Values of Units Redeemed (Redemptions): Insert the total value/ dollar amount of the sale of shares for a Fund. The value entered should be in millions of US dollars to four decimal places. *For example: 1) if the NAV is $12,000,000 enter 12.0000; 2) if the NAV is $15,862,000 enter 15.8620; 3) if the NAV $950,840 enter 0.9508. If it is a billion dollar value, for example $16,825,340,000, enter 16,825.3400. 4.4.6 Asset Allocation: Enter the type of assets the Fund is invested in or the asset allocation strategy used by the fund. 4.4.7 Total Returns Earned: Enter the net income of a period divided by the total net assets, expressed as a percentage. 4.4.8 For Period: Select from the drop-down menu the period for which the data applies to.

Page 14 of 16 4.4.9 Rec Id and Fund Id: The data for both fields are automatically generated by the system and does not require input from filer. 4.5 SUB-FUND DETAILS *Please note that sub funds that were previously entered by filers into the e-filing facility are located in the sub-funds section of the e-filing facility (this was done by an automated process). In this case, you are to review the data to ensure all fields are correct. If you have a correction to make, use the ‘update’ button. In cases where a sub-fund is not listed, please complete 4.5.1 below. 4.5.1 A new section titled ‘Sub Fund Details’ has been created to capture the following information for sub funds:

1. Name of the Sub-Fund: Insert the full legal name of the Fund as of 30 June
3. Status - Select from the drop down menu the status of the Fund at the end of the reporting period, as at 30 June 2018 - (active, dormant, liquidating, not launched, or closed).

• The “Fund Activity” section for funds that have not launched should still be completed and filled out with zeros (0).

3. Status Changed Date: If the status of the Fund has changed during the reporting period, indicate the date of the fund’s status change. For example, indicate the date of when the fund’s status changed from active to liquidating, and/or from liquidating to closed.
4. Comments: Insert any additional comments that are applicable to the sub￾fund.

Page 15 of 16 4.6 SUB-FUND ACTIVITY Please be reminded to enter data separately as at 30 June 2018. 4.6.1 Total NAV Previous US: Insert the total net asset value for the Fund at the end date of the previous reporting period. If there is no previous reporting period, insert the net asset value of the fund for the date operations commenced. The value entered should be in millions of US dollars to four decimal places. *For example: 1) if the NAV is $12,000,000 enter 12.0000; 2) if the NAV is $15,862,000 enter 15.8620; 3) if the NAV $950,840 enter 0.9508. If it is a billion dollar value, for example $16,825,340,000, enter 16,825.3400. 4.6.2 Total NAV Current US: Insert the total net asset value of the fund at the end of the current reporting period. The value entered should be in millions of US dollars to four decimal places. *For example: 1) if the NAV is $12,000,000 enter 12.0000; 2) if the NAV is $15,862,000 enter 15.8620; 3) if the NAV $950,840 enter 0.9508. If it is a billion dollar value, for example $16,825,340,000, enter 16,825.3400. If the fund changed its status between the months of 1 January to 30 June 2018, insert the most recent NAV and use the “Date NAV Calculated” field to indicate the date the NAV was calculated. 4.6.3 Net Increase/Decrease: Value is calculated automatically. This field captures the difference between the net assets held at the end date of the previous reporting period and the total net assets at end of the current reporting period. This may be a negative number. 4.6.4 Shares Outstanding: Enter here the number of shares that have been subscribed.

Page 16 of 16 4.6.5 NAV/Share: Value is calculated automatically. This field captures the current total net asset value divided by the number of shares outstanding. 4.6.6 Date NAV Calculated: Use the calendar provided to indicate the date of the Fund’s NAV calculation. 4.6.7 Trading Suspended: Filers are required to advise if the Fund has suspended trading or not. Select yes or no from the drop down menu.

1. Date Suspended: If ‘yes’ is selected in 4.6.8 use the calendar to indicate the date that the fund has suspended its trading.
2. Date Resumed: Indicate the date that a fund has resumed its trading or future-date. 4.6.8 For Period: Select from the drop-down menu the period for which the data applies to. 4.6.9 ID and Sub Fund ID: The data for both fields are automatically generated by the system and does not require input from filer. If you have any queries concerning completion or submission of the statistical data, please email us at statisticalinfo@scb.gov.bs, or contact the Investment Funds Unit, Supervision Department at 397-4100.