Page 34 - SC SCAR 2023 ENGLISH Flipbook

PART 2 REGULATORY PERFORMANCE AND OUTCOMES
INVESTMENT MANAGEMENT AND PRODUCTS
Collective Investment Schemes and Private Retirement Schemes
TABLE 9
Applications for collective investment schemes1 and private retirement schemes
(i) Applications
Considered
Approved
2023
2022
2023
2022
Authorisation of collective investment schemes
– Unit trust funds
– Exchange-traded funds
– Real estate investment trusts
22
222 - -
40
393 - 1
22
22 - -
40
39 - 1
Authorisation of private retirement funds
4
16
4
16
Exemption/variation from guidelines
5
2
5
2
Other applications
204
315
20
30
Registration of prospectuses/disclosure documents
304
126
304
126
Registration of deeds
303
221
303
221
TOTAL
658
436
658
435
32
SECURITIES COMMISSION MALAYSIA ANNUAL REPORT 2023
Note:
Consists of unit trust funds, exchange-traded funds, real estate investment trusts and wholesale funds. Includes 7 funds which were also qualified as SRI funds.
Includes 6 funds which were also qualified as SRI funds.
Includes 5 applications seeking qualification as SRI funds.
Includes 20 applications seeking qualification as SRI funds.
In 2023, the SC considered 658 applications relating to collective investment schemes (CIS) and private retirement schemes (PRS), comprising applications to establish new funds, register prospectuses and disclosure documents, register deeds and other ancillary matters. This is an increase of 50.9% compared to 436 applications considered in 2022, primarily due to an increase in the registration of deeds, prospectuses and disclosure documents. The management companies of unit trust funds and exchange-traded funds, as well as PRS providers, updated these documents during the year, ahead of the end of the transitionary period for compliance with certain provisions of the relevant CIS guidelines8 in 2023 (Table 9).
The SC also received 44 lodgements in relation to wholesale funds under the Lodge and Launch Framework for Unlisted Capital Market Products (LOLA Framework) for sophisticated investors, compared to 45 in 2022.
1 2 3 4 5
The SC had revised the Guidelines on Unit Trusts Funds in December 2021, Guidelines on Private Retirement Schemes and Guidelines on
8
Exchange-Traded Funds in September 2022 to promote competitiveness and innovation within a balanced and proactive oversight regime.