The Manager is responsible for managing the Funds’ portfolio, issuing Units and preparing and issuing the Master Prospectus. The Manager is also responsible for setting the investment policies for the Funds and implementing strategies to meet these objectives. The Manager is subject to the provisions of the Deed and shall carry out all activities as may be deemed necessary for the management of the Funds and its business. The Manager shall, in managing the Funds, undertake primary management activities in relation to the Funds, including but not limited to overall strategy, new acquisition and disposal analysis, marketing and communications, individual asset performance and business planning, market performance analysis and other activities as provided under the Deed.
In addition, the Manager has covenanted with the Trustee, among others, to do the following:
a)
carry out and conduct its business activities in a proper and diligent manner and manage and administer the Funds in a proper, diligent and efficient manner in accordance with the Deed, CMSA, the securities laws, the ETF Guidelines and other applicable laws at all times and acceptable and efficacious business practice within the unit trust industry;
b)
manage the Funds’ assets and liabilities for the benefit of the Unit Holders;
c)
set the investment policies of the Funds and submit proposals to the Trustee on the acquisition, divestment or enhancement of assets of the Funds;
d)
issue an annual report and interim report of the Funds to the Unit Holders within two (2) months after the end of the financial year/period concerned;
e)
have an oversight arrangement to ensure that the Funds are managed within the ambit of this Master Prospectus, the Deed, the CMSA, the securities laws, the ETF Guidelines and other applicable laws;
f)
observe high standards of integrity and fair dealing in managing the Funds to the best and exclusive interest of the Unit Holders;
g)
act with due care, skill and diligence in managing the Funds, and effectively employ the resources and procedures necessary for the proper performance of the Funds;
h)
ensure that the Deed and the Master Prospectus are in compliance with the CMSA, the securities laws, the relevant guidelines and other applicable laws at all times;
i)
take all necessary steps to ensure that the investments and other assets of the Funds are adequately protected and properly segregated; and
j)
unless otherwise specified in writing by the SC, ensure that the Funds have, at all times, an appointed trustee.
