Compensation for NAV variation required where recording errors cause price differences; scheme or asset manager must make good losses. The amendment mandates that trust deeds require trustees to meet at least once every two calendar months (minimum six meetings a year) and lowers the prescribed expense figure. It also establishes that where NAV discrepancies arise from non recording of transactions beyond the prescribed threshold, affected investors or the scheme must be compensated: schemes pay when investors received disadvantageous pricing; asset management companies pay to the scheme where investors were given advantageous pricing and may recover such amounts from investors.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Compensation for NAV variation required where recording errors cause price differences; scheme or asset manager must make good losses.
The amendment mandates that trust deeds require trustees to meet at least once every two calendar months (minimum six meetings a year) and lowers the prescribed expense figure. It also establishes that where NAV discrepancies arise from non recording of transactions beyond the prescribed threshold, affected investors or the scheme must be compensated: schemes pay when investors received disadvantageous pricing; asset management companies pay to the scheme where investors were given advantageous pricing and may recover such amounts from investors.
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