MAS requires advertisements in relation to Authorised and Recognised funds to be prepared in accordance with the Code of Best Practices in Advertising Collective Investment Schemes and Investment-Linked Life Insurance Policies jointly issued by IMAS and the Life Insurance Association (“CBPA”). Illustrations of income statistics in advertisements should also be prepared in accordance with the Guidance Notes on Recommended Disclosures to Support the Presentation of Income Statistics in Advertisements issued by IMAS (“RDPA”).

These guidelines are drafted with the intention of their application to all funds except for Recognised Funds, regardless of whether they are part of the CPFIS. IMAS recommends that managers disclose to unit-holders of all Singapore approved funds, the latest available fund expense ratio in the half yearly and annual reports to unit-holders

The Statement of Recommended Accounting Practice, RAP 7, was approved by the Council of the Institute of Singapore Chartered Accountants (ISCA). This RAP sets out recommendations on the way in which the financial statements of investment funds should be prepared. This RAP is intended to be applicable to all authorised unit trusts and authorised Variable Capital Companies (“VCCs”) in the Republic of Singapore, regardless of their constitution, size or complexity