management of the private fund, using knowledge and competence as a professional. The securities company shall enter into a written agreement with a person or a group of persons who has authorized the

are merged together; (8) “mutual fund amalgamation” means amalgamation of two mutual funds or more into one mutual fund in which the mutual fund which accepts the transfer of assets purchases or accepts

units in order to achieve efficiency in the overall operation of the company. (4) have performance appraisal and personnel development in order to maintain staff’s professional competence to remain fit