Mutual fund lite asset managers limited to passive advisory roles must disclose and manage conflicts of interest and separate remuneration links.

Mutual fund lite asset management companies may not act as trustees and are limited to advisory services for passive pooled investments, directly or through subsidiaries, provided they ensure no material conflict of interest, disclose absence or source of any conflict to trustees and unit holders in scheme documents, disclose potential material risk or damage where conflicts are unavoidable, and secure independence of key personnel by removing direct links between remuneration and revenues from the conflicted activity.

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