PRACTICE NOTES

1) Practice Note 1 – ATCM Guidelines on Unit Trust Funds

 

  • Criteria for Trustee to consider Management Company’s (MC) request to increase Fund Size

  • Classification of Liquid Assets

     

2) Practice Note 2 – ATCM Guidelines on Timesharing Scheme

 

  • Minimum Trustee Fee (RM16,000p.a.) w.e.f 3 April 2000

     

3) Practice Note 3 – Minimum Fees for Unit Trust Fund

 

  • Equities Unit Trusts – 0.1%p.a.of Gross Net Asset Value of the fund subject to a minimum fee of RM35,000 p.a. whichever is higher

  • Bond Fund Unit Trust – 0.08% of Gross Net Asset Value of the fund subject to a minimum fee of RM30,000 p.a. whichever is higher

     

4) Practice Note 4 – Non Compliance to ATCM Rulings w.e.f 21 July 2000

 

  • Step 1 – To issue a letter to seek an explanation from the defiant ATCM member (s) on its course of action
     

  • Step 2 – If the defiant ATCM Member (s) still carry on its course of action without remorse, a stern warning letter shall be issued. A copy of the warning letter shall then addressed to its Board of Directors
     

  • Step 3 – If the defiant ATCM Member (s) persistently ignore the warnings, the Committee shall invite the defiant Member Chairman and Chief Executive Officer for a Meeting/Interview to address the concern on violations to ATCM uniform practice
     

  • Step 4 – If defiant ATCM Member (s) still does not take heed of the final warning, the Association shall issue a Letter of Suspension of Membership signed by Committee and a copy would be forwarded to Securities Commission and the suspended ATCM Member Board of Directors. All the ATCM Members would also be notified on the suspension of such defiant Member

     

5) Practice Note 5 – Minimum Trustee Fee on Unit Trust Scheme (Amendment to Practice Note 3)

 

  • 0.08%p.a. on the Gross Net Asset Value for any fund/scheme subject to a minimum fee of RM18,000 p.a. whichever is higher with immediate effect

     

6) Practice Note 6 – Minimum Trustee Fee on Unit Trust Scheme


 

7) Practice Note 7 – Minimum Trustee Fee on Unit Trust Scheme (Amendment to Practice Note 3, 5 & 6)

 

  • Equities Unit Trusts – 0.07%p.a.of Gross Net Asset Value of the fund subject to a minimum fee of RM18,000 p.a. whichever is higher, unless the total Gross Net Asset Value in one particular Unit Trust Management Company for each Trustee is more than RM1.5 Billion, in which case the minimum fee is negotiable
     

  • Bond Fund Unit Trust – Same as above

     

8) Practice Note 8 – Minimum Trustee Fee for Unit Trust Scheme & Real Estate Investment Trust

 

9) Practice Note 9 – Minimum Trustee Fee for Private Debt Securities/Asset Backed Securities (PDS/ABS)

10) Practice Note 10 – (Number was skipped)

11) Practice Note 11 – Minimum Trustee Fee for Private Debt Securities

Secretariat Address:
Association of Trust Companies, Malaysia (ATCM)
c/o RHB Trustees Bhd,

Level 11, Tower Three, RHB Centre

Jalan Tun Razak

50400 Kuala Lumpur

 

Tel: +603-9280 5933

Fax: +603-9280 5934
Email: info@atcm.com.my