CMA LAW: Method and Timing of Disclosure of Investment Funds Information

Awareness Announcement

"Method and Timing of Disclosure of Investment Funds Information"

Kuwait on: July 26, 2015

As part of the CMA's endeavour to enhance legal and financial awareness of all parties concerned with securities activities, in particular persons dealing in investment funds, it attracts investors' attention to the importance of the information related to this type of investment instruments.

Investment funds related information is very important to investors in order to evaluate their investments. Therefore, the CMA reminds investors of the importance of perusing and analyzing the data and information which the investment fund's manager should disclose, as stipulated in the Executive Bylaws of Law No. 7 of 2010. The disclosure should include the following:

• Financial Statements prepared by the fund manager at least on quarterly basis according to the accounting standards approved by the CMA. Such statements should be published by the Exchange within 15 days from the end of the term, provided that a copy is sent to the CMA.
• Audited financial statements within 30 business days from the end of the fund's financial year.
• Periodical reports submitted by the fund's manager to the unit holders every three months maximum. They sholud include information about the assets net value of the fund's units, and the number of the fund units owned by the unit holders and their net value. In addition to a record about the account's activity of each unit holder and any distributions paid after the last report submitted to the unit holders.
• Monthly information about the fund, whether it is listed or not, which the fund's manager should publish every month to the public through the Exchange within 7 business days from the end of every month according to the CMA's form.

It is important that the investment funds issue and publish the required reports and data on time. The CMA anticipates that all investors will rely on accurate information as basis for making investment decisions.

Traders and licensed persons can visit CMA website (www.cma.gov.kw), KSE website (www.kse.com.kw), and the Twitter account @cma_kwt to keep up with the Authority's latest awareness announcements.

Disclaimer: The information provided on this page is for reference purposes only, visitors are encouraged to review and understand the information provided in the official scanned document attached in the link above (if available). The CMA endeavors to ensure that the information on this page is complete and accurate, but the CMA does not guarantee the quality, accuracy, or completeness of any content at any time. In the event the information on this page is different from the content in the official scanned document attached in the link (if available), the official scanned document attached shall take precedence.