Singapore legislation
Schedule 5
of Securities and Futures (Offers of Investments) (Collective Investment Schemes) Regulations 2005
Schedule 5
Illustration
FIFTH SCHEDULERegulation 25(1)(b) and (e)IllustrationAssume the following prices for a unit in a scheme with —
(a)
a subscription fee of 2%; and
(b)
a realisation fee which starts at 3% in the first year and decreases by 1% every year that an investor holds his units: Bid OfferT (date of advertisement) $1.50 $1.53T0 (a date no more than 3 months prior to T) $1.52 $1.55T3 (3 years prior to T0) $1.18 $1.20T5 (5 years prior to T0) $0.98 $1.00An advertisement of the scheme published on T could show one of the following:(1) TOTAL RETURN over the period from T3 to T0 (2) TOTAL RETURN over the period from T5 to T0