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  • CIU-1.8 CIU-1.8 Fees and Dividends

    • Fees

      • CIU-1.8.1

        All costs and charges payable from the assets of a Bahrain domiciled retail CIU must be clearly stated in its prospectus. This must detail the estimated or actual amount of costs and charges payable; their nature and the basis for their calculation; together with maximum amounts payable expressed as percentages of the CIU's assets, on a per annum basis. The level of fees for investment management or advisory functions including administration, custody, transfer agency and registrar fees must also be disclosed.

      • CIU-1.8.2

        Where a performance fee is charged by way of deduction from the assets of a Bahrain domiciled retail CIU, the following must be stated:

        (a) The frequency with which the performance fee is charged to the CIU; and
        (b) The basis upon which the performance fee is calculated.

      • CIU-1.8.3

        If a performance fee is levied, the fee may only be payable:

        (a) No more frequently than annually; and
        (b) If the net asset value per holding exceeds the net asset value per holding on which the performance fee was last calculated and paid.

      • CIU-1.8.4

        Costs and charges which have not been disclosed in a Bahrain domiciled retail CIU's prospectus may not be paid from the CIU's assets.

    • Dividends

      • CIU-1.8.5

        All dividends on holdings must be approved in writing by the CBB prior to being announced or distributed to participants of a Bahrain domiciled retail CIU.