performance for client’s acknowledgement by comparing the performance with the benchmark in consistent with the portfolio advisory or investment strategy of program trading and such benchmark shall be the total

mutual funds shall present highest, lowest and average performance and be compared with the performance benchmark of the proposed mutual fund (if any); (9) other information which are necessary to make a

percentage of fee that based on the performance (Performance fee) whereby the management company should perform the following 2.1 Prescribing a benchmark that is appropriate for the investment policy for the