mutual fund is efficient in generating returns close to the benchmarks. A mutual fund with high Tracking Error will have the average return deviating more from its benchmarks. Yield to Maturity refers to
returns in tracking the benchmarks. If the Tracking Error is low, it means that the mutual fund is efficient in generating returns close to the benchmarks. A mutual fund with high Tracking Error will have
within the same period for considering the application for approval of the establishment of the fund. Division 3 Power of the SEC Office Related to the Approval _______________ 5 Amended by the
considering the application for approval of the establishment of the fund. Division 3 Power of the SEC Office Related to the Approval _______________ Clause 19 The fund to be approved shall be in accordance
personnel’s performance]; (5) having efficient internal audit and control system; (6) having exhaustively comprehensive risk management of which preventive measures and arrangement shall be adequate and
appropriate, reliable and efficient operating system to support an intermediary’s business continuously in order that [i] the intermediary would be able to provide services for the best interests of a client