Marketing Material Guidelines and Compliance FAQ
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Question
Under paragraph 12 of the Advertising
Guidelines, the minimum performance
information is required to be presented on
complete 12-month periods (or shorter periods
for the earliest / latest period presented). Under
what circumstances are such shorter periods
applicable?
For website presentation, is the minimum
performance information required to be
presented on every webpage that contains
performance information?
Is it still required to accompany since
launch annualized return by all the
individual years' returns?
Is it permitted to show the annualized
return of a short term performance?
Answer
The presentation of shorter periods is only applicable under the following circumstances:
the year-to-date information presented to ensure that the information is up-to-date (as in
case 2 in Q16 above); or
the since launch information for the year of launch if the scheme has been launched for
less than 5 years (see Q17 above).
Performance information, if presented, should include the minimum performance information
(paragraph 12 of the Advertising Guidelines).
In the context of a website, the minimum performance information may be contained in a
particular section of the website such that where a webpage on the website presents
performance information of a scheme, the requirement to provide minimum performance
information may be satisfied by the use of a prominent link to this minimum performance
section.
Since launch annualized return needs not be accompanied by all the individual years'
return. It may be presented if the minimum performance information is disclosed in the
same advertisement. That means, the individual years' returns for periods preceding the
recent 5 years are no longer required.
Additional performance information, on an annualized or cumulative basis, may be presented
in addition to the minimum performance information, subject to the following:
ā
Performance information of less than 1 year should be accompanied by that of the most
recent 1 year presented in the same format and prominence (paragraph 13 of the
Advertising Guidelines).
Additional performance information should be sufficiently up to date (paragraph 15 of the
Advertising Guidelines).
Performance information of less than 1 year may not be annualized (paragraph 16 of the
Advertising Guidelines).
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