Regulatory Alerts2021-11-10
Added · Updated
Permissible Deductions from a Portfolio
The Namibia Financial Institutions Supervisory Authority issued Standard CIS.S.4.10 to specify the exact fees and charges that managers, trustees, and custodians may deduct from a collective investment scheme portfolio. The regulation permits deductions for securities trading, auditor and bank fees, management and administration costs, trustee remuneration, property scheme expenses, regulatory levies, taxes, and other legally imposed operating costs while prohibiting any unlisted deductions. Regulated entities must establish clear deduction determination methods in their scheme deeds, implement compliance policies and procedures, and disclose all deductions in detail within the portfolio’s annual financial statements.
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